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(Photo courtesy of Tim Mossholder)
May is National Small Business Month. If there's anything we've learned from this past year, it’s that we’ve seen more and more the importance of small businesses and shopping local. When an entire economy is forced to a halt, the businesses often struggling the most are those in our community. Whether it be your local grocer or favorite clothing store, these establishments are an integral part of economic and environmental health. Below are just a few of the many benefits to shopping local.
Job Creation
When you decide to support local businesses, you are contributing to a beneficial ripple effect. From 2000 to 2017, 8.4 million net new jobs were created by small businesses, making them the largest employer nationally. Additionally, small businesses tend to purchase from other local vendors, making their supply chains more sustainable and creating less emissions from transportation.
Giving Back
Just like our hometown of Boise, Idaho, many small businesses open their doors in centralized areas, which reduces sprawl, congestion, and habitat destruction. They also give back heavily to their communities. 52% of small business owners donate to charity, and of those that donate, 90% donate to local causes.
Keeping It Local
When you buy local, you keep local dollars in the economy. On average, if you spend $100 at your favorite local restaurant, $68 of that will be cycled back into the community. However, if you spend $100 at a chain, only $43 will find its way back into the community. Small businesses also add character and uniqueness to your community by offering goods and services specific to your region. Lastly, they increase innovation and entrepreneurship by wanting to solve local problems or bring new exciting products to market.
Proud Source Water believes in the power of shopping local and will continue to support and team up with as many local businesses as we can. As a business that started out local, we understand the importance of supporting our communities and encouraging grassroots engagement.
Small businesses build communities that support one another and encourage prosperity. Where you choose to shop can play a huge part into a positive economic and environmental impact. Especially as we begin to recover from the pandemic, you can make a difference in your community by supporting small businesses.