As Small Business Saturday is fast approaching, SFI is spreading the word on how supporting small, local, and family owned business helps our community.
In the state of Virginia alone, there are 706,626 small businesses in operation across our state. This makes up 99.50% of all small business! From local restaurants, to the shop down the street...small businesses have created major impacts across all communities. 33,908 new jobs were created in 2014 alone, meaning 47% of all employees in the state of VA were working for a small business. Woah!
In 2010, American Express founded Small Business Saturday. To read more about why, click here.
Let's remember to celebrate our community with the small businesses that make it special!
Here are some reasons to show small businesses some love...When small businesses succeed, we all do.
1. Local Character and Prosperity
In an increasingly homogenized world, communities that preserve their one-of-a-kind businesses and distinctive character have an economic advantage.
2. Community Well-Being
Locally owned businesses build strong communities by sustaining vibrant town centers, linking neighbors in a web of economic and social relationships, and contributing to local causes.
3. Local Decision-Making
Local ownership ensures that important decisions are made locally by people who live in the community and who will feel the impacts of those decisions.
4. Keeping Dollars in the Local Economy
Compared to chain stores, locally owned businesses recycle a much larger share of their revenue back into the local economy, enriching the whole community.
5. Job and Wages
Locally owned businesses create more jobs locally and, in some sectors, provide better wages and benefits than chains do.
Entrepreneurship fuels America’s economic innovation and prosperity, and serves as a key means for families to move out of low-wage jobs and into the middle class.
7. Public Benefits and Costs
Local stores in town centers require comparatively little infrastructure and make more efficient use of public services relative to big box stores and strip shopping malls.
8. Environmental Sustainability
Local stores help to sustain vibrant, compact, walkable town centers-which in turn are essential to reducing sprawl, automobile use, habitat loss, and air and water pollution.
A marketplace of tens of thousands of small businesses is the best way to ensure innovation and low prices over the long-term.
10. Product Diversity
A multitude of small businesses, each selecting products based, not on a national sales plan, but on their own interests and the needs of their local customers, guarantees a much broader range of product choices.
Let's share the impact of the Shop Small Movement! Help get the word out...Let's see what can happen when we choose to shop small at the small businesses in our community!