Locally owned businesses have always been a staple of pride within communities. Family restaurants, “mom & pop” shops, and other small businesses are, in many ways, more appealing than big-name companies to most members of the community. You’ve probably heard many people from your next door neighbor to prominent politicians talk about how important it is to support local businesses, but have you ever wondered why that it? Below we have listed the top three reasons that we think consumers should support locally owned companies.
1. Improve Local Economy. It goes without saying that building businesses within the community will help improve the economy. However, this is especially true for locally owned businesses because the money stays with the community rather than being divvied up within a large, national organization. When you support locally owned businesses, you are helping them to hire local workers which improves both unemployment rates and eventually the local economy. Thus, some of the money that locally owned businesses receive ultimately goes right back into the local community.
2. Superior Customer Service. Smaller, locally owned business tend to be a lot more selective when it comes to hiring members of their staff. Owners often seek out individuals that believe in their company, and that would represent their brand. Because of this, the quality of customer service is often much greater than that of big-name companies. Employees, being members of the community, are often much more personal and friendly. This is even more accurate when it comes to family-owned business. Ever walk in to a family-owned business and were treated like you were part of the family? That’s a special quality that a lot of locally owned businesses tend to have, and that a lot of consumers appreciate.
3. Quality Products/Flexible Pricing. Unlike most larger companies and chain stores, locally owned business often have direct control over the pricing of their merchandise. This means that they can lower their prices and offer discounts whenever they wish to as opposed to having to get approval from vendors who set product pricing. The quality of products also tends to be a bit better at locally owned companies because owners hand-pick the products that they wish to sell in their stores or restaurants.
Locally owned businesses are of pillar of hope and a representation of growth in many communities. Owners of these businesses invest their time and money into companies that ultimately benefit the local community and the economy within the community. Overall, supporting locally owned businesses is a great way to help improve your community while promoting growth and expansion.