Small Business Saturday which was created to encourage shoppers to patronize the small local businesses has come and gone. But you can still Shop Small and Buy Local this holiday season. Locally owned businesses have a huge impact on the economy and their communities. Small business accounts for two-thirds of net new jobs and drives U.S. innovation and competitiveness. A new report shows that they account for 44 percent of U.S. economic activity. What is the impact locally? According to the Small Business Administration, there are 33 million small businesses operating in the in the United States, with 668,000 right here in Maryland according to Baltimore Banner.
Here are five more reasons why you should buy local, this holiday season… and every day:
1. Small business gives back more to your community
Ninety one percent (91%) of small businesses contributed to their community through volunteering, in-kind contributions and/or cash donations. About 41 percent contributed all three ways. Who’s contributing to the raffle? The basket of cheer? The fireworks? Sponsoring the softball team? Your locally owned business.
2. Small business gives back more dollars to your community
Businesses pay sales taxes to the city and county that the business is registered in. All of the taxes collected from a locally owned business remain in your community to pay for public schools, parks roads, sidewalks and public service workers like firefighters. Only a portion of what is collected from a big box store stays in your community.
3. Small business impacts are even greater in the recirculation of dollars spent
4. Small business provides better customer service
Small business owners strive to survive and one of the biggest advantages they have over large retailers is the ability to provide more personable service. According to Forbes, many small business owners are experts in their field. They’ve invested money and time to build a business out of their passion. They are eager and happy to share this expertise with you. They’re usually employing other members of the community, or their kids, and they want to provide the best service. No one wants to hear that so and so or their child was rude to a neighbor or teacher.
5. Small business provides greater access to product diversity
One-of-a-kind businesses have a distinctive character and know their individual customers’ tastes. They’re not carrying the same mall merchandise that can be found whether you’re in Maryland or Michigan. And if they don’t have what you’re looking for, ask! They may be able to get it for you or refer you to someone who can.
Instead of seeking to build relationships locally, more and more organizations are using “national contracts” and “shared services/group purchasing” organizations. While this may simplify procurement and billing, it doesn’t guarantee the best price or service, and it does not support supplier diversity. And it doesn’t build or support your community. This holiday season, make a conscious choice to support local businesses. Your purchases can help create a more diverse, resilient, and vibrant local economy for years to come.
Electronics Value Recovery, Inc. can fulfill your electronics needs and you’ll be supporting a locally owned business. Check out reasons to buy refurbished electronics this holiday season.