It is important to support local businesses but often you will find that consumers will simply opt for the much larger, household-name brands which can make it hard for these smaller companies to survive. There are lots of ways that you can support a local business (in addition to becoming a regular customer) which should help them to find stability and support the local economy.
Avoiding Black Friday
Many people hold off their shopping till Black Friday where they will shop at much larger retailers that slash their prices for the day, but it is not helpful for smaller businesses. It is much better to shop at a local business which is likely to be much quieter and a better shopping experience.
Engage With Them on Social Media
Social media is a fantastic tool for small businesses to use as a way to promote their company and engage with their target audience, but it can also be challenging. You can support them by following them on social media and engaging with their posts which can help to raise awareness and boost their profile.
Recommend to Your Network
Leading on from this, for a small business there is nothing better than word-of-mouth marketing. If you have a positive experience with a small local business then you should always recommend them to your friends, family and colleagues which can help them to attract new customers and improve their reputation.
Leave Positive Reviews
Similarly, good reviews are incredibly important for acquiring new businesses so it is of great help to leave a good review online when you have shopped with a local business. This will show to other consumers that they will have a positive experience and encourage them to shop at the business.
Form a Partnership
If you also own a small local business then you could approach another business in the area about forming a strategic partnership. You could cross-promote each other to help you to reach a larger customer base and to grow your reputation as well as improve your bottom line.
Invest
If you really want to help a small business to succeed then you should look to invest. The Enterprise Investment Scheme (EIS) was set up to encourage investment in small businesses through the use of tax advantages for investors so it is a great way to invest while also supporting the local economy. You can speak to specialists like Downing LLP to learn more about EIS and investing in smaller businesses.
If you want to support local businesses then there is much more that you can do other than simply becoming a customer. The above are all good ideas which could be of great help to smaller businesses and help them to compete with the bigger brands in their industry.