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It’s pretty much a given as prices will remain volatile for an extended period of time, while supply lines (and associated energy prices) are still under pressure. As a result, many small and medium-sized businesses such as restaurants, print shops, coffee shops, retailers, etc. will plow through their savings and struggle to keep the lights on (literally).
In addition, it is vital to keep in mind that when you buy from a small business, your money tends to stay in the local community and directly benefit the families who run each business. So, if you love having small businesses near you, be a customer and patron.
Here are seven tips for doing that:
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1. Differentiate private equity from local companies
A private equity fund is designed to dominate a category of companies and gain as much money as possible for that fund. Every decision is made to maximize returns – even if it means burdening a company with debt and then liquidating its assets. In your shopping street you have bakeries, coffee shops, barber shops, barber shops, dental offices, etc. You also have independent bakers. So think about which type you want to boost.
2. Use Local Retailers for Branded Items
You may want to buy Apple headphones or a Hugo Boss shirt. These items can be purchased from a local retailer and about 30% of the money stays there. However, if you buy that same product directly, you pay the same price, but your money goes directly to the associated brand headquarters.
Related: Why People Buy What They Buy
3. Farmers markets/stalls
Most communities have local food festivals with farmers markets and stalls where local makers exhibit and sell. For example, those seafood was probably sold to you by the daughter of the man who caught it, the person selling eggs probably saw the chickens they laid, and those somewhat expensive dish towels and baby clothes were probably made by the lady who made the eggs. took. your money. They may cost £1 more than cheap ones in Tesco, but you’ll make her day and she’ll spend that money in your area too.
4. Religious Organizations
You may not be a believer, but after all, a church or other religious meeting place is just another kind of community center. A local can run a cafe that sells quiche and coffee (perhaps even with free Wi-Fi!) — made by someone in your community who really needs a place to start. The money you spend goes straight back to the local wallet, as well as to the work the institution does: it knows exactly which families are struggling and is likely to do small but essential things for them.
5. Hire people for small jobs/tasks
Someone in your area may muster the courage to knock on your door and ask if you need cleaning, gardening, car washing, data entry, etc. They clearly need a chance and hiring them to do these types of tasks can free up time that you can use in other ways. So just say yes and don’t negotiate the price!
Related: 6 Benefits to You and Your Community by Supporting Local Entrepreneurs
6. Etsy, eBay or FB Marketplace
Consider supporting people in your area who sell products online. We all shop almost every day in one way or another, so do your best to see if you can buy from a local/independent person. If you know someone who needs a chance, ask them to sell things you no longer use online and share the money with them.
7. Encouragement and Public Praise
When you come across a well-performing local business, take the time to give it a 5-star rating on Google. (Note if it’s also on Google Maps and let the owner know if it isn’t.) Communicate directly with them too – something like, “You’re doing a great job…thanks!” That encouragement may be exactly what gets her through the week.
Janice has been with businesskinda for 5 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider businesskinda team, Janice seeks to understand an audience before creating memorable, persuasive copy.