Female Sales Assistant In Independent Clothing And Gift Store Serving Female Customer

Support Small Businesses

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On November 27th, consider “shopping small” to support small businesses as you purchase holiday gifts this Small Business Saturday. The World Trade Organization reports that small and medium-sized businesses represent over 90% of the business population, 60% to 70% of employment, and 55% of GDP in developed economies. When you shop at a small business, you support its local community. By spending your money at an independent business rather than a large franchise, you help stimulate the local economy and create jobs. 

How can you support small businesses?

There are numerous ways you can support small businesses as a consumer. Here are a few suggestions to keep in mind on Small Business Saturday and every other day:

  • Buy online or in-person from a local store rather than a large retailer. 
  • Write positive reviews and interact with small businesses on social media.
  • Be loyal to a small business once you have bought from them and are pleased with their offerings.
  • Tip more than usual. 
  • Donate to a local non-profit business start-up incubator.

How Small Businesses Help Promote Innovation

Small businesses must compete with large competitors, many of whom have access to far more resources. This competition forces small businesses to innovate and create products and services that attract and retain customers. Many small businesses think out-of-the-box and simultaneously improve the quality of life of the people they serve through their products.

Small Businesses Supporting the local community

When you support a small business, you support the town and neighborhood. Small businesses pay sales taxes, unlike big-box businesses in some areas that often have tax incentives from the local government to have locations in the area. The tax money improves public schools, roads, and parks and helps pay for crucial public service workers such as police officers and firefighters.

Small businesses often provide better customer service

Small businesses genuinely value their customers. As a result, most will go above and beyond for those who support them in return. It’s much easier for a small business to learn about your needs, wants, and preferences than larger businesses and provide you with personalized customer service. 

© 2024 Trajan® Wealth LLC. Nothing in this blog is intended as investment advice, nor is it an offer to buy or sell any security. Please consult your financial advisor for questions about your personal financial situation. All investments involve risk, including the potential for loss. Trajan Wealth clients and employees may have a position in any of the securities mentioned. Portfolio holdings and other data are subject to change at any time and without notice. Additionally, the above links provided as a convenience and for informational purposes only; they do not constitute an endorsement or an approval by Trajan Wealth, L.L.C., of any of the products, services or opinions of the corporation or organization or individual. Trajan Wealth, L.L.C., bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. These materials are for informational and educational purposes and are not designed, nor intended, to apply to any person’s individual circumstances. It does not take into account the specific investment objectives, tax and financial condition, or particular needs of any specific person. Please consult with your legal and/or tax advisor before making any tax-related decisions.

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