How Do Local Business Owners Impact Their Communities?
One of the biggest reasons people are encouraged to “shop local” is because it supports the local businesses that help community members. Here are just some of the ways local businesses have a positive impact:
Creating jobs for local residents is one of the more obvious – and important – ways local business owners impact their community. Local businesses are the largest employer nationally. By supporting local business, consumers also supporting their neighbors who work at them. Employees can work closer to home, reduce their commute time and, on a more global level, also aid in decreasing traffic congestion and air pollution.
Increasing Tax Base
Tax dollars stay within the local economy when residents shop at these businesses within their community. Sales taxes generally provide about ten percent of local revenue, benefiting a city in plenty of ways – from better education to cleaner parks and streets. Local businesses tend to also buy locally, putting more of their profits back into the community.
Local businesses often play an integral role in the communities in which they live and work. They try to build a sense of community by getting involved and knowing their customers personally, meaning you will get better service when shopping. They will also be more aware of their impact on the community than the typical big-box retail store. Many local owners tend to be involved in volunteerism and other altruistic endeavors within the community, such as sponsoring local sports teams or participating in charity events. They are just as invested in building a strong, beautiful community as many residents are, and they usually try to leverage their businesses to benefit everyone.
Innovation and Competition
Local businesses need to stand out from the crowd to survive. They have to serve their community and find a way to do it better than their competitors. Having multiple local businesses that are all striving to be the best often means competitive pricing and better service for customers, in addition to a healthy overall local marketplace. The products found at local stores are often unique and harder to find at larger retailers – another positive of shopping locally.
Supporting local businesses through franchise ownership is a one way many entrepreneurs support their communities. Providing consumers with opportunities to shop local benefits residents, other business owners and municipalities in a variety of ways – both directly and indirectly.
Winmark Corporation is committed to local communities and franchisees looking to give back. If you’re interested in becoming part of the Winmark family, visit our website or give us a call at (866) 595-0053.