In an era where corporate giants dominate market sectors, supporting local businesses is more crucial than ever. Small businesses are the backbone of the economy, creating 1.5 million jobs annually and accounting for 64 percent of new jobs in the U.S. (U.S. Small Business Administration). Here are seven actionable tips to help shift your spending from corporate entities to local entrepreneurs, enhancing community growth and economic diversity.
### 1. **Shop Local**
Begin by changing your shopping habits. Opt for local markets and boutiques instead of heading to big-box retailers. Local businesses often source their goods more sustainably and keep approximately 68% of their revenue within the community, compared to only 43% for large businesses (Civic Economics).
### 2. **Utilize Local Services**
Whether it’s opting for a local accountant or a **remote bookkeeping service** that caters specifically to small businesses, using local services helps keep money within your community, supporting job creation and local economic development.
### 3. **Dine Locally**
Instead of dining at chain restaurants, visit local eateries. These establishments often offer meals made with locally sourced ingredients, supporting local farmers and reducing overall carbon footprint.
### 4. **Promote Local Businesses on Social Media**
A simple share, like, or review on social media platforms can significantly increase a small business’s visibility. As digital presence becomes increasingly crucial, your support can drive more traffic to these local entrepreneurs.
### 5. **Engage in Local Experiences**
Participate in local events, workshops, and fairs. These activities not only contribute to the local economy but also help build community bonds.
### 6. **Consult with Local Experts**
For business needs, consult local experts. Engaging with **business consulting services** within your community can provide tailored advice that understands the unique challenges and opportunities within your locale.
### 7. **Gift Locally**
Choose local products when gifting. Whether it’s artisanal crafts, local wines, or gift certificates for services in the area, these gifts support local businesses directly.
**Sources:**
– U.S. Small Business Administration: [Link to SBA](https://www.sba.gov)
– Civic Economics – “The Localized Economy”: [Link to study](https://www.civiceconomics.com)
By adopting these habits, everyone can contribute to a robust, diverse, and sustainable local economy, undermining the monopoly of corporate giants and fostering an environment where small businesses thrive.
