How Supporting Local Businesses Supports Local Communities
It’s an understatement to say the last year has been difficult for small and local businesses. Businesses have struggled to find ways to stay open and stay safe amidst the COVID-19 pandemic. Many had to shut their doors, and too many have closed down permanently. Fortune estimates that “nearly 100,000 establishments that temporarily shut down due to the pandemic are now out of business.” While things are beginning to look up, there is still concern that more businesses could close -- especially those in hard-hit sectors like hospitality, retail, and restaurants. If communities want to keep their local restaurants, boutique hotels, and shops open, they are going to need to support these businesses -- and there is good reason to. Local businesses are important to the economics and culture of a community. The benefits of thriving local businesses can cause a ripple effect of many benefits for a city. When people spend money at local shops and restaurants, it is far more likely for that money to stay in the community rather than get sent off to another area. Local First looked at the impact of shopping local and found that when you shop at a local store, $68 of $100 stays in your community. When you shop at a non-local store, only $43 of the same $100 stays in your community. When you shop local, more money stays right around your region, and that leads to a variety of benefits for the community. A majority of every dollar spent at a local business stays in the community. The only part of the dollar that leaves is money spent on products that needed to be imported from outside of your community. It should go without saying that every time a local business closes, locals lose their jobs. Supporting local business helps keep local jobs in the community. Small businesses employ roughly 47.5% of the workforce in the United States, according to the Small Business Administration, so it’s vital to keep these jobs in every community. In addition to the economic impacts, you also help instill and keep a unique culture when you buy from local businesses. Local brands often pull from elements that are specific to a city, such as pulling from the history or geography of the region to shape the style, flavors, and nature of their businesses. Shopping local ensures that these elements can keep the city true to its nature and help it stand apart from other cities and communities. More greenhouse gases are emitted shipping products in and out of a community. When you shop for and buy products that are sourced and made locally, you create less of an environmental impact. Just another reason to shop local! Related: Reasons Why We "Live Like a Local" and Think You Should, Too Supporting local businesses helps support your local community. So how can you get involved? At MyArea Network, it’s no secret that we love local. We are a local marketing platform that believes local businesses support and shape their community. Small businesses are the backbone of a great town or city, and it is our mission to make sure they have what they need to succeed. We’re getting ready to launch new initiatives that help local businesses survive and thrive during this difficult time. But that’s not all. We’re also getting ready to launch new initiatives that help locals -- both customers and other businesses -- support businesses in their community. Keep an eye out for more details about our small business support initiatives to see how you can help. Or get started now by contacting us to see how you can get involved or find support for you local business.How Local Businesses Support the Community
Keep Money In Your Community
Support Local Jobs
Maintain a Unique City Culture
Decrease Environmental Impact
How Can You Support Local Businesses?
Supporting Local Businesses Is Our Mission
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