Each year, the day following Black Friday is Small business Saturday, a day to support the small businesses in your community. So, why shop small?
Not only will your local economy benefit, the national economy will benefit as well. Historically, two-thirds of small new jobs are created by small businesses. Small businesses are also responsible for over half of our country’s GDP.
Here’s an example of how the local economy is supported by shopping small:
In addition to food services and retail stores, professional service companies can also be part of this cycle. Not only do locally owned businesses create new jobs and establish a sense of community, they also benefit the local economy by supporting other local small businesses by spending and partnering with them.
Another way that locally owned businesses positively influence the community is through making purchases at other local businesses which require less transportation. This can reduce environmental impact, contributing less to sprawl, congestion, habitat loss and pollution.
In addition to building the local economy, spending locally is important to promote supplier diversity by supporting minority, woman owned, veteran owned businesses and more. Instead of seeking to build relationships locally, more and more organizations are using “national contracts” and “shared services/group purchasing” organizations. While this may simplify procurement and billing, it doesn’t guarantee the best price or service, and it does not support supplier diversity.
This year, the Greater Catonsville Chamber of Commerce is doing some smart marketing to encourage people in the area to shop local. This campaign is called Shop in the ‘Ville and is a year long project that will encourage people to shop in Catonsville. Learn more about how to Shop in the Ville on Catonsville.org.