With the holidays in full swing, purchasing gifts are on the top of everyone’s to-do list. Although large chain stores may be the most convenient and affordable locations for many people, they are not always the most beneficial for a local community. It is no secret that small businesses struggle to keep up with these big chains during the holidays, and in many cases, locally sourced businesses close their shops permanently because they simply cannot compete.
Though “Small Business Saturday” has passed, Soucy Insurance would like to reiterate the importance of shopping locally. One of the main benefits is that it helps stimulate the local economy. According to a recent study, local businesses generate 70% more local economic activity per square foot compared to big businesses. This local activity creates an annual return, which would normally be a deficit for a big business in identical conditions.
During the holiday season, many chain stores hire new employees to keep-up with demand. However, these are only temporary positions, and chains will displace these employees at the conclusion of the holidays. Oftentimes, this pattern leads to a tax increase to keep up with new service rates. By supporting local employees, you are not only keeping them busy but also keeping them secure.
Beyond the economic benefits, buying locally also means you are helping to improve the environment. The additional shipping and production that comes with the holiday season results in an increase of pollution output. In fact, approximately half of all pollution is caused by industry and big business.
Shopping locally is a great way to give back to your community. Local businesses are the livelihood of a community and help make each region unique. Before you start getting your gifts in order, Soucy Insurance encourages you to consider shopping locally. A little thought can go a long way towards bettering your community.
Information for this article provided by: The Benefits of Shopping and Buying Locally (AMIBA.net), Why Buying Local Is worth Every Cent (HuffingtonPost.com)
