We all have that favourite spot in town, often times being a local coffee shop across the street from your go-to dry cleaners. Small businesses make up 99.7% and 98.2% of all employer businesses in the U.S. and Canada respectively. These businesses make a significant contribution to the economy through increases in private-sector employment and export value.
Take a moment to think about all the hard work and dedication these individuals have put into building their business. With only about 50% of small businesses surviving five or more years, it is crucial that you show your support as their success could pose many benefits to you and your community.
Here are some of the top reasons why you should support your local businesses.
1. Personalized customer service.
It wouldn’t be a surprise if the owner of a local business recognizes you the second time you visit their store or use their service. They might even remember exactly how you like your coffee made or house cleaned. Being so personally invested in their business and caring so much about what they do definitely impacts how business owners value their customer experiences. Their staff are also often friends and family or locals who have a specific set of skills and expertise. I personally really enjoy the welcoming atmosphere of a local shop when I step inside. It’s also inspiring to witness how hard the staff are working to keep their business alive and how attentive they are to your needs.
2. Create more jobs.
According to Canada’s Economic Action Plan, small businesses represent 48% of the total labour force in the private sector and about 30% of Canada’s GDP. In addition, the Small Business Administration stated that in the U.S., 63% of new jobs between 1993 and 2013 were created from small businesses. In addition, they provide jobs to local students and residents who may not be able to get a job in large corporations. Many of these local businesses close down after just a couple of years, so it is important that they have local support.
Related Posts: Why I Love Local Businesses
3. Local economic benefits.
When you support local businesses, the money you spend is more likely to be circulated within the community because these businesses typically purchase from other local businesses nearby. This money will then be put towards strengthening the businesses, increasing jobs, improving customer experience, and building a better future for your city.
4. Give back to the community.
Local businesses are also more likely to give back to the community. These businesses strengthen community bonds as they are more likely to partner with local residents, other business owners and entrepreneurs. Because many business owners were locally born and raised, they are more invested in supporting the future of their community and are more likely to give back through local charities and initiatives.
Consider this the next time you need a product or service and think about how big of an impact a simple purchase can make on your community. Gata Labs supports local service companies across North America.
These are just a few of the local businesses accessible through the Gata Hub app:
The Detailing Knights in Toronto, ON: Offering Mobile Auto-Detailing Services.
Chicago Household Services in Chicago, IL: Professional Home Cleaning Services.
Busy Bee Dry Cleaning in Regina, SK: Dry Cleaner with Free Pickup & Delivery Services.