How Supporting Local Businesses Can Help Save Your Community During a Recession

The world is currently going through a tough time with the pandemic causing a global economic downturn. Small businesses are among the hardest hit, and many are struggling to keep afloat. Although the government has provided some aid, it may not be enough. However, we can all do our part to support our local community by shopping at local businesses. In this article, we will discuss how supporting local businesses can help save your community during a recession and how you can be the hero that makes a difference.

 

Local businesses are the backbone of any community. They bring employment opportunities, boost the local economy, and provide unique products and services that you can’t find anywhere else. When you shop locally, you contribute to these businesses’ success and help to keep your community vibrant. With a recession, the local economy takes a hard hit, which only gets worse if people continue to shop at chain stores or buy online. Therefore, we need to create awareness of the need to shop locally to avoid a decline in the morale of the community.

Did you know that for every $100 you spend at a local business, $68 stays within your community? However, if you spend the same $100 at a chain store, only $43 stays within the community. That means that the money you spend at a local business has a more significant impact on the local economy and can potentially create more jobs which eventually have a positive impact on the county’s economy. By shopping at local businesses, you help to put money back into the community, strengthen local jobs, and create a unique shopping experience.

However, sometimes people avoid shopping locally because they believe local businesses are more expensive than chain stores. However, this is a common misconception. In most cases, local businesses offer lower prices for many products and services compared to other stores because of lower operating costs, making them more affordable. Additionally, local businesses often have higher-quality products than chain stores, making them worth the extra cost, and encouraging customer loyalty.

The pandemic has also shown us the power of community support. Local businesses have had to adapt quickly to survive and have proven their dedication to the community. They have set up online shops, delivery, and curbside pickup services, making it easier for their customers to shop safely and efficiently. By supporting your local business, you are not only making a difference in their livelihood, but you are helping to build stronger relationships within your community.

The economic downturn has hit us hard, and we need to band together to support local businesses. Shopping at local businesses can be more affordable and offer a unique experience. Additionally, supporting your local economy results in more job creation, a stronger economy, and higher morale among community members. We all have the power to make a difference and support our local businesses during these trying times. Let's all be heroes to the small businesses in our community!