There’s a common misunderstanding that purchasing from online big box stores comes with a price advantage. At face value this might seem like the case; however, you actually end up paying more in the end. How? Well the biggest impact this has is when the local economy suffers, job availability is scarce and that impacts each of us (and our bank accounts) directly in some way.
But why is it so important to buy local anyhow?
Benefits of Purchasing Goods & Services Locally
1. Keeps Dollars in Local Area
One of the biggest reasons to shop local is the mere fact that it helps to keep your community vibrant and thriving. Local businesses generate 70 percent more local economic activity per square foot than big box retail stores. When you spend $100 at an independent business, $68 of that goes back into the local economy. While on the other hand, only $48 goes back into the local economy when you purchase from a big box store.
Did you know that if every family spent an extra $10 a month at a locally owned businesses instead of a national chain, over $9.3 billion would be directly returned to our economy. That’s a huge impact!
2. One-On-One Support & Customer Service
Let’s face it. Online big box stores can do everything possible to provide you with personalized support but that can only go so far when you’re talking to someone over the phone, or more common today, online chat centers. Local, small businesses can uniquely provide you the face-to-face support and service that makes you feel valued and cared for. Local businesses also invest in their employees by providing training and education to improve the knowledge of their products and services, ultimately providing you with better service!
3. Creates Jobs Locally & Increases Wages
Did you know that local, small businesses employ the most people nationally? Millions of jobs (actually roughly 77 million jobs) have been created by local, small businesses alone. That means more opportunities for you, your family, and your friends. It would be a monumental hit to not only the local economy but the nation without those job opportunities.
4. Local Companies Support Local Organizations
One of the most commendable characteristics of local, small businesses is the value they place in giving back to the community. Northern Michigan small businesses are especially known for this and place a high importance on supporting local charities and organizations not only financially but also by volunteering their time to help those organizations thrive.
5. Keeps Product & Service Costs Low
More small businesses means competitive pricing and constant innovation. When there are more businesses working in the same market, you can rest assured that they will compete with each other to provide the best goods and services at the lowest price to get your business. That means, the best quality products for the most affordable price. What could be better?