Take away the character, the heart and the voice that small town businesses offer to communities and what else are you left with? Economic benefits that other big corporations can’t provide.
A Local Dollar Well-Spent
We’re familiar with the old “giant companies driving out local businesses” scenario, but the good news is that they’re coming back better than ever in towns all over the United States. Several studies have shown that for every dollar spent at a local, independent retailer, it creates a much better value that generates two to four times more income, jobs and tax collections. Other research has also found that towns with a thriving local business scene means a community with less pollution, more charitable actions and better walkable neighborhoods. It’s all this simple: local companies form local relationships that create an uplifting effect to a community.
The Impact of Buying Local
A study found on the American Independent Business Alliance said that independent retailers returned more than half of their revenue to their respective community, while large chains only returned around 13%. Similar research also showed that small town businesses protect their town by providing a diverse range of businesses–from house cleaning to pet care–that help to shield from economic problems.
When it comes to national chains, each sale takes 70% of its revenue and brings it back to the corporation’s headquarters. But when we take a look at local businesses, we have the opposite. That same figure stays within the community and helps it grow.
Fun, Flavor and Fitness
Main Street communities are known to be tourist attractions and because of their strong “walkability”, small town businesses are visited frequently. When new regulations that benefit the environment are introduced, they’ve been known to accept and follow these changes compared to larger corporations.
Independent businesses maintain a community’s character in a way that larger chains can’t. There is a unique sense of place that you can only find in those rows and rows of small town businesses.
Statistics look fine on paper, but experiences tell another story. The feeling a customer gets when they shop at a small town business simply beats shopping at a chain store, which can feel impersonal and lacking heart. And when you can get exceptional customer service while keeping everything within your local community, who could ask for more?
Small business owners have a lot on their plate, but a solid marketing program can make a considerable difference and is a must-have for startups of all sizes. Limited budgets aren’t a roadblock to hiring professional marketing help anymore. With rates starting at $25 a month, a Shared Teams membership provides access to complete marketing services on-demand. Learn more here!