Selective Insurance Social
  • Business
  • Auto
  • Home
  • Digital Toolbox
    • LinkedIn Best Practices
  • Flood
    • Hurricane Preparedness
  • Infographics
  • Prep Guides
    • Coronavirus Information
    • Spring Maintenance Guide
    • Fire Prevention & Safety
    • Winter Preparation For Your Home
    • Winter Preparation For Your Business
    • Winter Preparation For Your Vehicle
    • Hurricane Preparation

Small Business Saturday: Supporting Your Local Businesses

11/22/2017

 
Share this article:
Small businesses are among the most important components of the American economy, both on the local and national levels. 

Consider the following statistics from the U.S. Small Business Administration, an entity devoted to supporting entrepreneurs:
  • Small businesses outnumbered large ones by a margin of 28.8 million to 18,600 in 2013.
  • More than 99 percent of all companies that have employees in the U.S. are small businesses. 
  • Small businesses are responsible for more than half of the total export value. 
  • Between 1992 and 2013, small businesses created 63.3 percent of net new jobs. 

With this in mind, let's take a look at why you should consider shopping at your local retailers this Small Business Saturday. 

Supports the local economy
While entrepreneurs have a massive impact on the national level, their greatest value is often found in the local areas they reside. For example, if you were to shop at a major, multi-national chain, much of their profits will go back to shareholders in other states. On the other hand, small business revenues and profits will often be funneled back into their local economies via the salaries of employees from the area, vendor relationships within the community and more. PV Local First, a nonprofit advocacy group supporting independent businesses, states that local companies are more likely to purchase and sell goods from other entities in their areas.

Higher quality
Small businesses are also rarely involved in mass-production activities, especially when talking about local retailers. This means that you will be able to purchase more artisanal, higher-quality goods in many situations. If the small local business is a re-seller, then you will be supporting artisans, craftmakers, cooks and other professionals in your area as well. 

Indirect philanthropy
When you shop local, the philanthropic and charitable groups in your area are more likely to thrive. Sustainable Connections, a nonprofit that focuses on green initiatives, states that small businesses donate 250 percent more to nonprofit organizations than larger, national chains. These funds, which you will be fueling when shopping local, can go a long way toward making tangible differences in the lives of your neighbors. 

Be a part of the movement
American Express, the credit card company that started Small Business Saturday, estimates that $14.3 billion was spent in 2014, and 95 million Americans shopped local during 2015's iteration of the event. Do not miss your chance to show your support for your community's companies and entrepreneurs - get out and shop local on Small Business Saturday!

Related Articles

4 Ways Small Business Owners Can Limit Liabilities
4 WAYS SMALL BUSINESS OWNERS CAN LIMIT LIABILITIES
Fire Safety Tips for Small Business
FIRE SAFETY TIPS FOR SMALL BUSINESS
3 Small Business Risk Management Tips for Winter
3 SMALL BUSINESS RISK MANAGEMENT TIPS FOR WINTER


Comments are closed.

    Categories

    All
    Auto
    Business
    Flood
    Home

Picture
© 2020 Selective Insurance Group, Inc.
User Agreement
​Community Guidelines
​
AdChoices
CCPA Request 
Privacy
Contact
Visit our main web site at: selective.com or follow us:

© 2020 Selective Ins. Group, Inc., Branchville, NJ. Products vary by jurisdiction, terms, and conditions and are provided by Selective Ins. Co. of America and its insurer affiliates.
Details at selective.com/about/affiliated-insurers.aspx
Picture
Picture
  • Business
  • Auto
  • Home
  • Digital Toolbox
    • LinkedIn Best Practices
  • Flood
    • Hurricane Preparedness
  • Infographics
  • Prep Guides
    • Coronavirus Information
    • Spring Maintenance Guide
    • Fire Prevention & Safety
    • Winter Preparation For Your Home
    • Winter Preparation For Your Business
    • Winter Preparation For Your Vehicle
    • Hurricane Preparation