Shop Small For a Big Impact
It’s that time of year again; time to start the holiday shopping. As you make your lists of who is getting what and where you’re going to shop consider checking local small businesses first. One of the most impactful ways you can support our teetering economy is to shop small and keep your dollars local.
We’ve written before about how small businesses represent over 99% of all U.S. businesses. Nearly half of American employees work for a small business, making up over 33 million businesses. Those are pretty staggering statistics, which is why it is so important to keep those businesses open and thriving.
Small businesses are not just the critical backbone of our economy, they are also the factories in which innovation and creativity are forged. Small businesses can offer unique products or services that might be harder to find in a big box national chain. Small business owners are usually experts in their field and are passionate about what they do. They also tend to offer better customer service. These places help bring character and life to the places we live.
When you shop local, you’re doing more than just helping a business grow, the money they earn supports local jobs and usually stays within the community. Their tax dollars go towards local public services. When it comes to finding donors and support for other organizations, small businesses are usually the primary contributors.
In our modern world of technology, it has become even easier to support your local businesses because most small businesses have a website and support online shopping. The majority also have some sort of social media platform, allowing them to connect with their community and customers. Oftentimes, small businesses will offer special deals or discounts via their social media pages to drive up their online connections.
Here at Yield Financial Advisors, Inc., we enjoy supporting small or locally owned businesses whenever we can. Our newsletter you’re holding is printed by a small business. Our technology service provider is another small business. We bank at local banks, which provide quick and friendly service. With each of these connections comes competitive pricing, exceptional service, and the opportunity to build relationships, and that is a very valuable thing.
Yield Financial Advisors, Inc. works to help small businesses become profitable by offering consulting services, bookkeeping, retirement planning and 401k consulting, tax planning strategies, as well as comprehensive financial planning. Our goal is to assist small businesses in becoming profitable by giving them the tools they need to establish a strong foundation to build on for long term success. By understanding the role of profits in a small business, owners can enjoy a return on their investment. Afterall, earning an income, (salary or wage) from a small business is a return on the labor provided to the business. Earning profits from a business is a return on the investment into that business. They are two completely different earnings.
There is nothing like experiencing the satisfaction of seeing small business owners’ ideas develop into a successful business that provides for their family and contributes to their community. Whether it’s a local bank, service provider, or boutique, these small businesses help make our cities unique and bring value to the places we live. It may take some planning but consider shopping your local small businesses before checking the big retailers this holiday season. And if you know a small business we can help, give us a call.
Photo by Mike Petrucci