Half a decade has passed since the Small Business Administration or SBA said that the U.S. is home to close to 30 million small businesses which make up about 99.7% of all businesses in the country.
Since 1776, independent and small businesses have played an integral part in the rapid growth of the country. They helped boost the economy, created jobs for people, filled in the different needs of communities, and ultimately, became foundational stepping stones upon which the American Dream was built.
But more than just the financial losses, there are a lot more to consider if we let these businesses close down and disappear. Here are some compelling reasons why we should support independent and small businesses.
9 Reasons Why It Is Important to Support Small and Independent Businesses
1. Communities are dependent on them
Small businesses help provide goods and services that a community needs. It may be a neighborhood grocery or drug store or it could offer HVAC maintenance or walkway repair services, these independent local businesses help communities function well.
2. These are owned and run by people, not boards
Unlike bigger corporations or multinationals, local businesses are not run by boards, stockholders, nor algorithms but are owned and independently-run by individuals and members of the community where they are located. This means that the quality of service you get from them is more authentic and sincere because they know what the community needs. After all, they are a part of it.
3. It shows support and respect
Showing your support to small businesses means you are giving your support and respect to the owners and their employees. You are acknowledging that what they are doing is hard and commendable because of the inherent risks and challenges they face every day. And besides, you don’t need any other reason to support local and independent establishments other than it’s the right thing to do.
4. Innovation and creativity are often found in small businesses
In a homogenized world, it is the small businesses that bring originality and creativity to the table. Entrepreneurs and business owners try to come up with new innovations that can meet the needs of the people in their community. This contextualized approach is what makes things move forward in the grander scheme of things.
5. Local businesses give a city its character and personality
One of the things that make communities interesting and even lovable is their local shops and establishments. These brick-and-mortar shops are the ones that give a neighborhood its personality and character. They literally give cities their texture, color, shape, and taste. They are what makes a local community feel like home.
6. Your money goes back into your community
If you patronize local shops and establishments, you’re doing more than just supporting the owners and staff. You’re actually helping fund your local community’s treasury and boost its economy. You’re helping fund ideas that are outside the mainstream which encourages greater creativity among entrepreneurs and business owners.
7. They help create jobs for the community
One of the most obvious reasons why independent businesses are important is the number of jobs they provide. They are quite literally the lifeline of any neighborhood and community because they help regular folks around you put food on their tables and roofs over their heads.
8. They give excellent personalized customer service
Since independent businesses and local establishments are owned by people of the community, you somehow get this sense of security that they will sincerely serve you and make sure your needs are met and your expectations are surpassed. The care that they put into their service is worth every penny that you pay for.
9. They are a reminder that dreams do come true
Whenever a business is launched off the ground and an establishment opens its doors to the public, no matter what they’re selling, whether it’s goods or services, this is an indicator that someone’s dreams have been realized and fulfilled. It is a great source of inspiration and motivation for everyone to keep pursuing their dreams because they do come true with hard work and determination. To these people, this is the American Dream.
Small and independent businesses are the lifeline of every community. They provide jobs and boost the economy. They are the backbone of every thriving city and town’s economy. The success of local businesses will determine the health of the community in general. So we should all do our part and give our support to them because they do a lot for us.