Small local businesses support each other by promoting to consumers that they should “buy local,” “eat local,” and “go local.” But in the grand scheme of things, what does this mean? Supporting the local business community may be a worthy endeavor, but one can’t deny that it’s also inconvenient and many times expensive. Not many local diners offer free delivery of food, but big fast-food chains do. Local shops cannot give big discounts, but Macy’s and Walmart do.
Many of these businesses form a cooperative in the Philippines or other countries or cities to support each other. The cooperative is a way for them to get access to financial assistance in case their businesses need it in the future. That’s why they are empowered to market to their local consumers. They want a way for their businesses to prosper so that they don’t have to borrow money from the cooperative or financial institutions.
But going local isn’t just about the business owners. In many ways, it is beneficial to the local economy and the community.
Strengthens Local Economy and Social Programs
The money you’re going to spend on a local diner will come back to you indirectly. This money will be paid for as tax to your local municipality. In turn, the local government can use this money to improve social programs and other community activities. Unlike big restaurant chains who bring the money you spend on a dinner there to their main branch, which is likely to be in the big city, supporting local restaurants will strengthen the programs that your local government has enacted.
Local businesses also use local sources. Instead of their purchases going to other companies in other cities, they will find sources and materials from existing local businesses, too. The money will stay in the local economy.
Small local businesses do many more things for the community, such as making donations for certain programs and services and financially backing community groups and neighborhood activities. If there’s a local farmer’s market or food fair in your area, look out for a banner that thanks most local restaurants and shops. In turn, the support that local businesses give to these neighborhoods will strengthen the sense of community within one another.
Creates More Jobs
The Small Business Administration said that the 28 million small businesses in the United States in 2017 provided for more than half of the total jobs in the United States since the 1970s. The same can be said for other countries and cities. These jobs can go to you, your family, and your friends. But when you apply for a job in a large mall chain, you face tougher competition. Buying local does not just strengthen the community and the local economy, it also creates more jobs that will directly benefit families like yours.
Reduces Environmental Impact
As mentioned above, local businesses are likely to use local sources. This means that the transportation of goods will be minimized and thus, reduce the chances of contributing to land and air pollution. Although it does not have a direct impact on you and the community yet, it helps stop the further degradation of the environment and its natural resources.
This is how you should look at supporting local business: choosing and going local means helping yourself and your family, too. If the local economy is strong, there will be more social programs that you and your family and friends can avail of. The local economy has a direct impact on your everyday lives.