Small businesses construct main streets across America. However, the small business industry is actually a really big one. The Small Business Administration (SBA) says that there are 28.8 million small businesses in the U.S. as of 2013.
As the holidays quickly approach and inevitably shopping hits one of its peak seasons, this time of year should serve as a reminder to remember the guys on main street.
And here’s seven reasons why:
1. Your money stays in town
According to the SBA, for every $100 spent at a local shop, $68 stays in-town. Take that same $100 and spend it in a big-box store, and only $43 stays in-town. That’s a $25 difference between the two business sizes and their ‘in-town investments.’ Thus, proportionately, small businesses place over 25 percent more money into their town’s pockets than big-box businesses do.
Pictured above: Main Street in Madison, Connecticut is decked-out with holiday decor.
2. We trust them the most (literally)
According to data-research company Gallup, small businesses are the second most trusted entities in America. 65 percent of Americans trust small businesses compared to the 22 percent that trust big businesses. According to the poll, Americans expressed “a great deal” or “quite a lot” of trust overall in small businesses.
3. Small Business Saturday
After you throw your money towards the big-guns on those Black Friday/Thanksgiving sales, take time to venture out on Saturday, too. In 2010, American Express made it a company priority to advocate for small businesses. Since then, the credit card company has seen huge success with the day, estimating over 95 million people spent $16 billion at small businesses on Small Business Saturday in 2015.
Pictured above: American Express' 2016 Small Business Saturday logo.
4. They bring un-expected uniqueness
When you go to a chain business, you expect to see X, Y and Z. The same idea applies to local businesses, but they often provide a unique angle on a product or service that you hadn’t thought of before.
Take for example my mother’s business, Kidscapades, which is essentially a children’s activity center, offering themed-birthday parties, after-school programs, and other special events. Focusing on birthday parties, she doesn’t just throw your traditional party for kids with balloons, a magic show, and a cake. The birthday-studio is themed and decorated to the max., the kids receive their own personalized goody-bags and the birthday-child even gets to have their hand print painted on the studio walls.
Small touches like those are what we can expect from businesses who have to fight strong in a competitive marketplace that’s dominated by large corporations.
Pictured above: Personalized goody-bags are just the smallest of details that small businesses take the time to pay attention to.
5. ‘Real’ customer service
Not that you don’t get customer service at the big-box stores, but it’s not ‘above and beyond’ service. Chances are when you walk into a small business, you’re communicating face-to-face with the owner, family member of the owner or a local towns-person. When’s the last time you walked into Walmart and had the owner help you out?
They provide service that is well beyond a corporate requirement. It’s personal, it’s hands-on and it’s (wow, wait for this…) with a real person. And the best part is they do it because they want to. Their livelihood, businesses, and personal reputations are extremely fragile and dependent on, frankly, your opinion of them.And they have every desire to please you-- and it shows.
Pictured above: Kidscapades owners smile for a photo, emulating their genuine love, 'goofiness' and passion for their business.
6. They’re knowledgeable and not out to get you
Day-in and day-out, they’re working in their ‘expertise.’ They know what to offer you, what you need and they respect your budget. No gimmicks or ridiculous corporate policies to hide behind. They’re a small business with typically a small capital behind them; they know what it means to stretch a dollar and that’s reflected right on to you, the consumer.
7. They give back to the community
Not only do they invest capital in the community, they sponsor local events, they volunteer at local fundraisers and they make their presence known to better the community. The fundamentals of community service are engrained in the local business’ mantra—because they’re what make the community!
Treat a small business like you would a neighbor: respect them and include them in your community.
Support the guys on main street this holiday season, after all, they are your neighbors.
