Why supporting local business matters
It’s great to see some positive economic movement, but we know that Covid-19 has crippled some local businesses. While the economic doors are reopening, it’s becoming more apparent that small business owners need support from their local community.
Why support local?
You strengthen your local community
Buying local from a butcher, food market or second-hand store means your money goes back into the local community. Often, we see many Small Business Enterprises (SMEs) giving back to their local communities in other ways such a running a donation or blanket drive or backing local initiatives. If local businesses are strong, their community and economy strengthen as well.
Shopping locally means job creation. According to business environment specialists, SBP, small businesses are undeniably important for job creation and employment in developed and developing economies. Who knows, these jobs could go to your neighbour, siblings or friends in the area.
Reduces carbon footprint
When buying produce or products, local businesses are known for supporting their local community. For example, your food market’s supplier could be the farmer who grows fresh fruits and vegetables. He makes a delivery every week which doesn’t require much transportation.
Consumers need to know the power of the Rand and where to spend it so that it makes a positive contribution to their local community. For example, if you had R100 and spent R20 on airtime (money goes to the headquarters), R50 at an FMCG store (money also goes to their head office) and R30 on transport (contributing to his daily wages) to-and-fro grocery store, R30 from your R100 would circulate in the local economy.
Whereas, if R50 was spent at a local grocery store (where R20 goes to their staff wages and R30 goes to the local farmer who supplies the store). If money starts circulating in your local businesses, small businesses will thrive, job creation and local wealth will increase.
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