Small Business Season – Part One
It’s Small Business Season- not to be confused with National Small Business Week. It generally lasts from November 1- December 31. Now is when we take time to be deliberate about our purchases and choose to support our Local Economy by shopping locally. Simple enough. Article’s done, continue your day, thank you for reading!
If you’re looking a little bit more, let’s ask Why- Why Does a Small Business Matter? To start, there are over 33 Million small businesses in the U.S. From 1995-2021, they were responsible for 62.7% of net new job creation (SBA “Frequently Asked Questions”). That is a rather substantial portion of our economy. And according to their 2023 Small Business Profile for Kansas, they account for 99.1% of Kansas Businesses, and 49.5% of Kansas employees. For our border state Missouri, their profile lists a slightly higher 99.4% for businesses, and a slightly lower 44.8% of Missouri employees.
Also, there's the “Local Multiplier Effect” to consider. The American Independent Business Alliance has a handy chart that shows local recirculation of revenue. Out of $100, $13.60 spent at a Chain Retailers vs. $52.90 spent Locally stays in the local economy. And according to SCORE.Org, small businesses donate 250% more to local non-profits than larger businesses do. It makes sense that Small Business owners who are part of the community understand the local needs and are willing to help.
There are also a few other factors to consider. Shopping locally means less driving for both you and the products. Locally owned stores are more likely to buy from other local stores, which cuts down on transportation (and again feeds money back into the local economy). An item created locally is also more likely to be unique. Local stores offer a more personalized and passionate service. A local store has better customer service.
So statistically, out of ten people you know, 4-5 of them work for a Small Business. It’s easy to think of a Small Business as just that one Mom and Pop Shop that’s been around forever (which is a dismissive oversimplification- it’s not easy to run a small business for years or even decades!). But it’s also more than that. There’s a good chance your hair salon, chiropractor, veterinarian, local brewery, electrician (and more!) are all Small Businesses. The opportunities and options they offer the community enrich it. The people who own the business are your neighbors.
With all these reasons why, we encourage you to take a look and visit a local business today. You might just find your next favorite store/restaurant/service! Continue on to part two for “How to Support Small Business Season”.