Our communities are important to us in so many ways. A thriving local economy is self-perpetuating and when we support local businesses, we all benefit. At this time of year, it is more important than ever. As the holidays approach and people turn their thoughts to gift-giving, philanthropy, and goodwill, there is no better place to start than right here at home.
Supporting local businesses has many benefits – not just to the businesses themselves, but to the community at large. When our business community wins, we all win!
Here are just a few of the ways that supporting local businesses helps:
1. It’s an opportunity to contribute to the local economy
Research shows that for every $100 spent at a local business, $68 of that amount remained in the community. That number stands in sharp contrast to the $43 that would remain if spent at a national chain. Local businesses often source their goods and services locally as well, meaning that your purchase is supporting much more than just the local store. The better our local businesses are doing, the more local residents they will hire, helping us all thrive even when faced with an uncertain global economy.
2. Local businesses offer better customer service
When you know the people you are dealing with, chances are you will receive better service overall. Dealing with national companies or global enterprise often means that you are just one of thousands of other customers and may not receive the same kind of personalized attention. When shopkeepers know you, they anticipate your needs and will support you in your own efforts to achieve excellence. Better service makes your community a better place to live, work, and do business.
3. Buying local supports entrepreneurship
Entrepreneurship is the backbone of our economy. It fuels innovation and raises the standard of living for families everywhere. The more we support our local entrepreneurs, the better off we will all be as it reduces the need for us to look outside of our community for essential services as well as unique offerings.
4. Going local is good for us, good for the environment
Supporting local businesses reduces the environmental burden created by long-distance logistics. It also makes better far better, and more efficient use of local resources compared to big box stores and shopping malls. Also, a walkable business district means that consumers will not have to drive as far to access goods and services. Fewer cars on the road mean less pollution and perhaps walking a little more will make us all healthier as it can reduce heart disease, obesity, and depression.
5. Supporting local fuels healthy competition
A diverse local marketplace encourages healthy competition and innovation. It also ensures low prices and invites consumers to shop around, creating a sustainable business environment that is good for everybody.
Do you have a favorite business or store in Round Rock or Georgetown?
Since we are all getting ready for the holidays, why not make a commitment to shop local this year? Avoid the crazy crowds at the malls and keep your money in the community where it belongs!
Drop by Heritage Office Suites today for a tour and some holiday cheer. We are your local flexible office alternative and we’d love to show you how we can help you grow.
