This year has been a difficult one for us as individuals and in particular small business owners. Whether you’ve been running a business for over a decade or have recently started up your own venture, 2020 has brought about challenges that none of us have ever experienced in our lifetimes.
With this in mind, there has been a great increase in support for shopping local. From purchasing veg boxes from farm shops, and meat from your high street butchers, to buying your loved ones Christmas gifts from smaller retailers. The post sharing on social media and boosting of small businesses has been hugely positive.
We want to continue the support for small businesses with our list of all the benefits for shopping locally.
Boosting the local economy
Choosing to purchase from a small, local business rather than a large chain, is actually better for the economy of your community. In fact, it’s estimated that £10 spent with a local independent shop means up to an additional £50 goes back into your local economy. Simply because local business owners tend to spend their money locally in pubs and restaurants for example.
Small businesses are the biggest UK employers and account for three-fifths of employment in the private sector. Research also shows that they are more likely to pay a living wage. Thus, adding more money into the local economy.
Not only are smaller businesses likely to sell more unique, one-off items but they also provide a more personalised customer experience. Building relationships with local shop owners means they can tailor their stock specifically for their customers easier than large chains. Making your shopping experience even better.
Better for the environment
With the majority of your local businesses found on the high street and within walking distance, this cuts down on carbon emissions from travelling to a shopping centre. This is also the case with purchasing food from local farm shops with less air miles being used to get your food from ‘farm to table’.
Local governments will provide tax-incentives to entice larger chains to their communities. However, these corporations tend to pay less in taxes. That means local residents have to pay more in. When you buy local it lessens
the individual tax burdens and can create up to 75% more tax revenues for your local community.
6. Better deals
Smaller business owners are more likely to throw in extras, or ‘freebies’ for regular or new customers. More care is often taken to thank-you for your custom. They also have more discretion over their pricing and the ability to reward regular custom. Meaning you are more likely to get discounts on items you actually went in for, rather than being sold on multi-buy offers.
They may feel like small, daily purchases to you but to these business owners choosing to spend your money with them is huge. For more information on how to support local businesses visit Support Gloucester.