Beyond their size, small businesses are defined by their spirit. And at the helm are their intrepid founders—scrappy, ambitious, and resilient. They invent and build things despite uncertainty because it’s what drives them. Their risks lead to innovation that moves the world forward. And we need them.
Small businesses are important to the economic and social fabric of our society, and we all play a part in their survival.
Competition from chain stores, skyrocketing retail leases and struggles to secure funding or manage cash flow all contribute to well-known small-business failure rates. But small businesses are important to our society’s economic and social fabric. Here’s why it’s important to support them.
1. They make a positive impact belgium mobile database on the local economy
The spread of the global pandemic has undoubtedly affected the economy. We cannot stop this, but we can make a choice with our dollars to help local economies stay afloat and give small businesses a fighting chance to rebound when we emerge from our homes.
Growing companies, some that started in garages or coffee shops, foster eco-systems that enable other small businesses to thrive in their wake. Entrepreneurship inspires and facilitates more entrepreneurship—think online curators, who amplify even more small brands, bringing their products to new audiences.
When you shop local, your dollars stay in the community and help local development.
In terms of local businesses, the impact is even more obvious. When you shop local, your dollars stay in the community and help local development. This is called the multiplier effect. For example, a restaurant buying ingredients from local producers uses a local insurance broker and hires a local design firm, buildi