Why Support a Small Business?
In a globalized economy filled with large companies, you may wonder if small businesses matter at all. Well, in the United States, there were well over 30 million small businesses in 2022, which accounted for over 99% of the total companies in the country. So whether you actively interact with small businesses or not, it’s quite tricky to avoid them. But why should you consciously support small businesses? Are they that important to the economy if they generate much less revenue or employ much fewer employees than a large-sized business? Today, we’ll define what a small business is, look at reasons why everyone should support small businesses, and find ways to help a small business. Finally, we’ll wrap up with a look at several small businesses at Quail Corners Shopping Center.
What Is a Small Business?
According to the US Census Bureau, a small business is defined by revenue and employment numbers. A small business’s revenue ranges from $1,000,000 to $40,000,000 and may employ up to 1,500 depending on the industry standard. Different organizations use different cut-off points, but most agree a small business can be a sole proprietorship, partnership, or corporation. In order for the firm to be classified as a business, it must be organized with the primary goal of making a profit, which excludes all non-profits/charities. The general consensus of experts is that small businesses drive the American and local economies through their cash flow, ingenuity, and passion. Different organizations vary on what they would call a small business, but most people intuitively know what counts as a small business, even as industry standards vary greatly.
Why Support a Small Business?There are many reasons why everyone should support small businesses, but perhaps the most important is that it supports the local economy. With large companies located in several states or countries, money gets cycled out of your local economy, which means your hard-earned money isn’t helping you or the people you care about in the long run. Small businesses invest in local charities and pay all their taxes to the place they do business in, allowing their money to contribute to upgrades in the school system, public parks, and other local attractions. Money stays local with small businesses.
Another perk of small businesses is that they drive product diversity and innovation. Because small businesses don’t have the cash flow or connections large businesses do, small business stakeholders must find ways to make their products and services stand out and give more value for the same price. This creates the perfect opportunity for better product development and product diversity within the market.
Small businesses also lead the way in sustainability and environmental causes. Because passionate people tend to run small businesses, it’s not uncommon to find people passionate about sustainable business practices in leadership within small organizations. While small companies may be more limited in what they can do globally to reduce waste and harmful environmental practices, they tend to ensure everything under their control is above expectation.
Finally, small businesses add local character to the places they’re a part of while also providing personalized service and care. It’s easy to overlook how vital local charm is to a place, but those who love the areas they are in value it immensely. While you can find a Walmart anywhere, you can’t find your favorite small business everywhere. And part of what makes your favorite small business your favorite is that it gives you a tailored experience you can’t find anywhere else. Small businesses matter to cities and individuals for many reasons, and that’s why you should support them.
How Can I Support a Small Business?
There are many ways you can support small businesses both in your area and online. The first and most obvious way to support them is by shopping at them. Whether you shop for yourself or gifts for others, buying anything from a small business means a lot to the owners and propels their business forward. A second way you can support small businesses is by driving business to them. Whether you give your friends gift cards or just recommend the store to them, getting other people in the doors of a small business is a great way to increase foot traffic, which inevitably leads to increased sales.
Finally, you can leave reviews and engage on the small business’s social media pages. Following, liking, and sharing your favorite small business’s social media pages is a great way to introduce your friends to the business while leading the algorithm to put the company in other people’s feeds. While businesses love when you spend money at their store, that isn’t the only way to support your favorite small business. Even spreading their brand using word-of-mouth can be incredibly effective!
Small Businesses at QCSC by Category:There are many small businesses located in Quail Corners Shopping Center just waiting for loyal customers to find them. If you’re interested in shopping local and small, here are a few small businesses in the Raleigh area that are sure to fulfill your desires.
Deja Brew Coffee House
Big Ed’s Restaurant
Cristo’s Ristorante & Pizzeria
Quail Corners Barber Shop & Styling
Quail Corners Shoe Repair
Styles by Cathy
The Carriage House
These, along with countless other small businesses, are what truly make local economies thrive. Without the passion and grit of small business leaders, communities would cease to exist as we know them today. So whether you think your purchase makes a difference or not, remember that every dollar counts for small businesses. Shopping small equals a big impact, and while you may not realistically be able to shop solely from small companies, something is better than nothing. Understand your personal financial goals before shopping and decide where it may be worth spending the extra time and/or money supporting local and small. Small businesses matter, so start shopping there today!