Small businesses are an essential and often overlooked part of our nation’s economy.
What most people don’t realize is that these local businesses shape the personalities of our communities.
Unlike big national retail chains, small businesses can adapt their products and services to meet a community’s needs.
Not only that, a much higher percentage of the dollars spent in locally-owned businesses— versus chain retailers— actually stay in the community.
“When you are loyal to local you’re keeping more money and jobs within your community. When you support a local business an average of $0.67 stays within the community which goes towards supporting more local services as well as job creation. This is also cyclical as local businesses are more likely to support other local businesses which further helps the community,” according to Melissa Greenfield of Think. Shop. Buy. Local.
Think. Shop. Buy. Local showcases Richmond’s small businesses, the people behind them, and their website promotes local news, happenings, and events that support the local community.
The COVID-19 pandemic hit our local communities hard. It’s no secret that many small businesses have closed indefinitely due to dwindling business. As Melissa told us, “it’s important for consumers to recognize that small businesses don’t have the same levels of reserves that national retailers have and these businesses are often barely breaking even. Every purchase makes a difference and whom you choose to support today will truly determine which businesses survive tomorrow.”
Fortunately, many people are recognizing the importance of supporting small businesses. Even big companies like AMEX have launched campaigns to encourage consumers to “Shop Small.” Again, unlike big national retail chains, small businesses can adapt their products and services to meet a community’s needs. With all the health and safety measures in place because of COVID-19, Melissa says “many local businesses now offer even more convenience than national retailers with more flexibility regarding curbside pickup and even delivery or shipping options.”
Dobrin Property Management is proud to be a locally owned business in Richmond’s vibrant community, and we’re encouraging our tenants to be loyal to local.
You don’t have to make substantial lifestyle changes overnight, but you can learn to shop local one step at a time. We asked Melissa to give us some tips for those trying to learn to shop local:
- Start small
- When you need to buy a gift try a local gift shop first – they usually offer the most unique items anyways as well as gift wrapping
- When you just need a few grocery or pharmacy items, try a local place so it isn’t as overwhelming as your entire shopping list
- When you’re looking to order take-out, try a locally owned restaurant – and try to order directly through the restaurant so that they pay less in third-party fees
If you’re looking for another way to support small businesses right now…
Small Business RVA Fundraiser
The Crossroads Art Center is coordinating an online fundraiser to lend local businesses and artists a helping hand in this economic slowdown. For each purchase of a piece featuring a local small business, a portion goes directly to that small business or one of the buyer’s choosing, depending on the artist and piece.