B2B Success: Reasons to Support Your Local Businesses

B2B Success: Reasons to Support Your Local Businesses

You hear it all the time these days: “shop local;” “support local businesses;” “Locavore.” But, why should you support local businesses? Here’s why.

To Support Your Local Community

Your local community is where you live. If you spend most of your money there, you are enriching it. You are supporting it. Most people see this as a good thing, and something they want to do.

After all, you wouldn’t live there if you didn’t like it. So, why not support it with your hard-earned money?

Keeping Dollars In The Local Economy

Money that’s in the local economy ends up flowing back into the local economy through public works projects, tax incentives, rebates, and job growth. Keeping money in the local economy helps local companies build up their revenues so that they can stay in business.

That, in turn, helps you. Picture a local grocer or a small community bank. Doing business with them, as opposed to a national chain, means that you’re keeping the charm and character of your locality alive.

Local businesses have a distinctive character, and that translates into an economic advantage over “too big to fail” type of companies.

Promote Local Entrepreneurship

Local entrepreneurship is what builds and sustains an economy. By supporting a local business, you’re supporting local entrepreneurs who create wealth. That wealth then flows back into the local community, which helps it thrive.

Local businesses often support other local businesses, but only when they have the excess resources to do so. For example, a local business might sponsor a contest for the “next big thing” in your local city or town.

Every city was small at some point. They all grew because citizens in that area helped those businesses grow. Local retail stores catered to the community, and the community favored them.

Encourage Local Product Diversity

Midlake custom hinges produces specialized commercial products, and this is just one example of a company whose product serves a local community and encourages diversity in the marketplace.

By supporting a multitude of small businesses, you are supporting the growth of your local community and, in the process, you are giving those businesses more money for research and development. If it’s a larger commercial operation, you may be helping to build up a national company.

If it’s a small “mom-and-pop” shop, you will still encourage more diversity by circulating money through the local economy instead of sending it out of the city or state.

Create More Local Jobs

Creating local jobs is important because that forms the basis of a community. And yet, many people who don’t support local businesses don’t realize this. By supporting local businesses, you provide companies with the money to grow the community through job creation.

Over the long-term, the revenue generated by local spending will build bigger, more stable, and more prosperous companies – companies that will then provide and take care of the community.

And, that’s really what you want, isn’t it?

Julie Shrum has worked at Midlake since her father decided to retire way back in 1996. She has accumulated a vast knowledge of hinges and metalworking during her time as sales manager. Julie works closely with the sales team to create the best customer experience possible. She continues to learn daily about new applications for sheet metal fabrication.