When the economy is experiencing a downturn, most people tend to eliminate a lot of luxuries in order to save money. From reducing the number of products being purchased to more cautious spending and budgeting practices, consumer habits are greatly affected by an economic changes. However, during such lean times, local businesses also need consumer support more than ever in order to stay afloat. When deciding where to spend your hard earned money, there is no better choice than local businesses. Here are some of the most important reasons to support local products.
Locally owned business are more likely to support programs and projects that are designed to strengthen communities. This includes sustaining active town centers, fostering local networks of economic and social relationships and participating in local efforts to improve the community. Furthermore, because local businesses often tend to recycle a bigger share of their revenue back into the local economy, the whole community benefits.
Small businesses often give back to the community in a wide range of ways, from donating to purchasing and supporting other local businesses. When small businesses are thriving, the community and the local economy are also strong,
Local stores are often more sustainable than mass chains. They help create vibrant, compact and walkable town centers. The type of infrastructure that local stores often create are crucial in eliminating urban sprawl, automobile use, air and water pollution, and the loss of habitat for local plant and animal life. They require relatively smaller spaces, thus leading to a more efficient use of local resources and public services. Local businesses also tend to use local products and resources as well, reducing the need for transportation and outsourcing.
Competition and Innovation
When there are hundreds of local businesses competing for your patronage, the typical result is an increase in innovation and better quality products and services in order to ensure their continued survival. Furthermore, when local businesses are thriving, you can be assured that you will have access to more diverse range of products to choose from.