How to Support Small Businesses

Society seems to be shifting to favoring small businesses and local community more and more, even in the face of large companies and corporations. This can mean great things for small towns and insulated areas, but the recent pandemic has taken a toll on quite a number of mom and pop shops. Now more than ever it's up to people in the community to stand together and help out the little guy so these businesses will still exist when the world returns to normal. There are things companies and communities alike can do to keep small businesses alive and thriving in these difficult economic times.

Small Business and Community

Even though some may use consumer banking, every local establishment is a (hopefully) thriving entity. Before examining what can be done to help these little businesses, it's important to consider how they help the community. One way local business can bring people together is by holding a contest to promote an event in town. Maybe there's a charity race going on and the local t-shirt print shop holds a contest for the shirt designs. It's a way to both showcase local talent and bring in significant businesses to the shop because every race participant would receive a shirt with their registration. Or, if there's an upcoming parade, then a store could hold a raffle for a spot on their float. There's no end to the possibilities. Volunteering is another great way local businesses pitch in to help their towns. It's not uncommon for employees to show up in branded clothing to help out at a soup kitchen or city-wide cleanup project. It's another great way to give back to the community and showing people the business cares about the town it lives in. Finally, they can help other businesses or budding entrepreneurs by teaching classes about what they do. For example, a bakery owner might teach a cupcake decorating class for people interested in learning about working with confections. This could give them an opportunity to scout out potential talent, but also to impart knowledge to people interested in opening their own shop one day.

Support From Big Business

Now that it's easy to see how important local businesses can be in a community, it's time to consider how they're assumed competition can help them thrive. Big corporations get a bad rap for crushing the little guy, but in reality it can sometimes be beneficial for them to help out the shop around the corner. One easy way to grow their business is to create some type of partnership with the establishment and offer to help them with their supply. This "creates shared value." When a large company stands to make some money on the back end from a smaller business selling their goods, they're likely to put in their resources to help that shop survive. Another reason big companies might help the little guy, believe it or not, is simply nostalgia. Even mega corporations like Dell and Apple started out as small ventures with just one or two founders and no employees. Everyone needs a little help to get where they're going, and big business has that hand to extend.

Aside from being the bigger business and lending the know how and materials, assisting small ventures can even give companies a chance to help develop the future of their industry. Tons of innovative ideas start small, and if they're the ones to invest it from the ground floor, then they're the ones who get to be part of the change at the end of the road. (Not to mention the profits.) So, in a number of ways, by helping the small stores develop and sell products, big companies can actually do themselves a favor and grow their own businesses.

Support From Community

At the end of the day, it comes down to the people in a town to really give a local business the support it needs. Owning a business and being one's own boss is "the American dream," but no one can do it alone. Small businesses create jobs in communities that might not have an abundance of chain stores or fast food restaurants offering employment. Also, if people shop at local places, then the money they spend and the taxes they're charged actually stay in their communities instead of being siphoned off by the state or federal government. This means more opportunities for growth and development in their town, which can boost other industries like tourism.

The more people who support local establishments means the more voice the community has in town decisions. If everyone opts to spend their money at a town burger joint, then adding a Burger King on the corner would be a hard sell to the city council. Supporting businesses means the people get a greater say in what is and isn't added to their community. This unity of opinion and purpose creates relationships among town members and can forge a more closely knit society. Most people could agree it's more pleasant to go to the grocery store and be greeted by name than feeling like just another face in the crowd. Through volunteer efforts and continued patronage, people can get to know each other and feel safer and more familiar around town. Knowing store owners and employees by name can also help to provide a more personalized service experience than shopping at large chains. Whether it's getting an emergency hair cut appointment or finding a dress for a child's senior prom, it never hurts to have someone willing to go out of their way to help.

Finally, local businesses are traditionally better for the environment than big companies because they rely on locally sourced products. This cuts down the carbon footprint of shipping and manufacturing materials drastically.

It's important to keep small businesses alive during this difficult time. Even in the face of a pandemic, there are plenty of ways corporations and people can support local ventures to keep them functioning and enriching their communities.