5 Reasons to Support Small Businesses

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As a small business owner, I know how important it to keep the business afloat. Creative products and innovative ideas are necessary, but without support, the small business may be difficult to maintain. Let me share with you five reasons why you should support small businesses.

First, the stats

According to the The Philippine Statistics Authority (PSA) 2017 List of Business Establishments in the country, 99.56% comprise MSMEs (Micro, Small, Medium Enterprises), while large enterprises make up 0.44%. Of the 99.56% MSMEs, 89.63% are micro entrepreneurs. These are businesses that have a capital of less than 3 million.

What does this mean? In 2017, 4.9 million jobs open because of MSMEs while only 2.9 million came from large business entities. MSMEs generated more jobs (62%) that year. I am not an economist. But looking at the data, if we support small businesses they will thrive and help build the country’s economy.

Reason #1 Creates more jobs

Small business owners start with the owner being the all-around person. It starts as a small family business. When we support small businesses, their business expands. They will need to hire more people. When there is an increase in demand for their products, they open more job opportunities.

Some business owners provide employment to stay at home mothers in the barangays and people with disabilities. These people have a fair chance of earning an income for their families. They become productive members of society.

“Small businesses are the bedrock of entrepreneurship.” – Sougwen Chung (artist).

Reason #2 Boosts local income

When you buy from a local shop owner, you are helping improve the economy of your community. This small contribution adds to the local and national revenue as well. A small thing goes a long way.

As the income of the city increases, it improves the local services in the community. In turn, you are helping boost the economy in your own way.

“Independent businesses are the lifeline of every community.” – Wilson Tang (owner, Nom Wah Tea Parlor and Fung Tu).

Reason #3 Drives creativity

Small business owners are creative individuals who see the need before it arises. They are always improving their services or products to cater to a wider audience. There is an assurance that the products bought are well thought of and are of the best quality.

Small business owners are on the lookout for something new. They are always researching, reading, and engaging clients. New ideas come out because of this.

“Independent business bring originality and variety in a world that’s becoming increasingly homogenized.” – Craig Costello (Artist and founder, KRINK).

Reason #4 Getting your money’s worth

Can you put a price tag on creativity? I don’t think so.
But small business owners need to do that. Some say that their items are quite pricey compared to those found in stores. It is unfair to compare a mass-produced product on the shelf of a superstore to a handmade or homemade product. They are incomparable.

Remember, the money you spend on buying these unique items goes back to the business. They need money to produce more creative ways of making you happy.

“It’s important to support people who put their heart, soul, and last dollar into something they believe in.” – Jillionaire (DJ, producer, founder – Feel Up Records).

Reason #5 Personalized service

When you buy from a small business owner, more often than not, you will be speaking to them face to face. The owner will be entertaining your queries and even handle your complaints themselves.

Small business owners are after your satisfaction of their service or product. They would like you to be a happy and a returning client. They are willing to engage with your reasonable demands. But extend respect and kindness, please.

“When you support an independent business, you’re supporting a true reflection of the person or people behind it.” – Stella Ishii (founder – The News Inc. and 6397).

Small business owners are real people. You are not talking to the social media manager or account officer of a large corporation. You are speaking to the one who designed that handmade necklace at home. Or the one who baked that Chocolate Cake you love while caring for a toddler at home.

Their desire is for you to experience their product or service without robbing you of your money. Delivering quality products and service is their mission.

How to support small businesses without spending

  • Like, Love, or Wow their posts
  • Share their posts
  • Comment on their posts
  • Spread the word online and offline

If you are a small business owner or know one, support your fellow entrepreneur. Keep on encouraging them to pursue their small business. Who knows, they might even partner with you in the future. #supportsmallbusinesses