Why should you prioritize shopping small this season? Read on to learn about the impact shopping small can have on your community and why we need to make this a priority as we approach the holiday season.
Don't forget to check out our Fall Favorites for seasonal home staples, cozy gifts, fall-inspired self care, & more!
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Five Reasons to Shop Small This Fall
1. Employment
Small businesses employ around 60 million people in the US. This is almost half of the total private-sector workforce and makes small businesses a significant driver of job creation and economic stability. Shopping small means you are helping create and maintain jobs and support people's livelihoods.
2. Industry Distribution
Choosing to support a small business is easy! With over 33 million in the US alone, they are prevalent across various industries, with a significant concentration in sectors like retail trade, professional services, and construction. Next time you are in need of a good or service, do you research and try to opt for a local small biz!
3. Economic Impact & Innovation
Small businesses contribute significantly to the U.S. economy, accounting for about 44% of U.S. economic activity. They are crucial for innovation, with many new products and services originating from small enterprises! This is because small businesses are able to have creative freedom to direct and run their business how the choose and often times have the ability to try new things. The close relationship with the customer also means that they are able to asses and understand the customer's wants and needs better than larger corporations.
4. Growth & Challenges
About 50% of new small businesses fail within the first five years. Significant challenges like low access to capital, regulatory hurdles, increased costs, and rising competition, make it progressively difficult for small businesses to survive & thrive. Cheaper, mass produced alternatives and convenience shopping are also making it particularly difficult for small businesses in the retail sector to stay afloat.
5. Supporting Real People
There’s nothing better than knowing that your purchase directly supports a real person, their values, dreams, and hard work. Whether that’s a local small business or one you came across on the internet, each dollar dedicated towards supporting small businesses truly makes a difference in people’s lives.
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Thank you for your support!
