This is Not a Drill: Small Businesses Need Us More Than Ever
In the last two weeks, I think I've seen at least a dozen posts about small businesses in the region announcing they're closing. And every time I do, my heart breaks a bit. I shutter to think about all the ones I don't even know about because they haven't yet hit my algorithm or operate just a bit out of the realm of businesses I follow on social media.
We all know the why. Gas prices and tariffs and insurance premiums and rents - they're all up. Those ultimately raise the price of everything else. And small businesses don't have much wiggle room to raise their own rates when all their consumers are also facing tighter budgets.
Alongside all those closure announcements, there's also posts popping up all over the place about supporting small businesses. And a lot of us like the post, perhaps we reshare it, and then we move on with our day. I know I'm guilty of doing that more than I'm happy to admit. It's what the digital/social media age has conditioned us to do. We intake troubling content, let it glide over us, feel some type of way for a moment, and then keep scrolling.
But the harsh reality, the one we don't fully process while doing our daily doom scrolling, is that the implications of all these businesses closing is larger than we realize. We've all heard the adage that "Small businesses are the backbone of a community." But they REALLY are. And when they start closing (even the ones we never shopped at), we all feel the consequences.
Small businesses account for 99.9% of nationwide businesses, and they employ 45.9% of all private sector employees. Closure of small businesses translates to loss of jobs.
They also generate 44% of U.S. economic activity. Their loss will leave a significant gap.
Small businesses are where new ideas and innovation live, and without them, large corporations will not be pressured to progress and improve.
Diversification helps competition. Without a wide array of small businesses, large box stores will be free to charge whatever they want.
Small businesses literally support the community. They are the ones supporting nonprofits, sponsoring community organizations and events, and bringing in tax revenue.
Studies show that a whopping 68% of money spent at small businesses stays within the local economy, compared to only 43% for large chain retailers.
We truly can no longer afford to be performative about our support of small businesses. And while it may be too late to save those local businesses that have already closed or announced plans to do so, it's more important than ever that we take very real steps to protect those we still have.
And what does that really look like? We all know we need to shop local, but many of us have also grown complacent with convenience. So let's reframe how we think about shopping local, moving away from "a nice thing to do" and towards "a necessity we can't afford not to do."
How to Support Local - For Real
1: Do an audit of what you're buying
I know we all love our 2-day deliveries, especially with our overpacked schedules. But before you hit "add to cart," consider whether a local option is available. Think about the things you're buying most often, like household supplies, staple foods, stuff for the pets and the kids. Consider which of those things could be picked up locally. A lot of small businesses now offer local delivery or in-store pickup for things bought online. You won't even need to add too much time onto the process.
Might it cost a little bit more? Possibly. But instead of just shopping once or twice a year for special occasion things, think about which of your routine items can be shifted locally. Because once or twice a year isn't helping those businesses stay open. They need sustainability.
2: Leave a damn review
Supporting a small business doesn't need to be costly. If you have somewhere local that you love, don't assume everyone else knows about it. Leave a Google review so they get better reach. Tell literally everyone you know about the place, even if you don't think they're the target audience. They might know someone who does. Show up for these businesses with consistency.
3: Invest in your community
Consider other ways you can support these small businesses by investing in your community at large. Volunteer for a nonprofit. Consider donating to a local organization or team. Support events that bring opportunities to entrepreneurs. Get involved with economic development initiatives. Sometimes doing the work to help the overall financial health of the community can directly translate to more money being invested back into local businesses.
Social media likes and positive thoughts aren't helping small businesses keep the lights on. Let's all take some ownership for keeping our communities alive by taking action today.
