In The Northern Affinity, we love that we work with so many small businesses. It’s a great way of building community, developing leads and working collaboratively. However, it’s still challenging for independent businesses to make their initial mark. This week, we’re taking a look at why it’s so important to support local, independent businesses.
Keep your community varied.
Local businesses give the community flavour and personality. More people are making a point of seeking out unique, local gems rather than reverting to the ‘safe option’ chains. We’ve said it once and we’ll say it again, never underestimate the power of referrals.
A community of varied businesses can even have a direct impact on tourism in the area. For example, places like Camden Market are full of independent businesses and drive thousands of tourists and consumers there every year. Their uniqueness and independence is something that is celebrated.
Does your town have a talking point? If you stumble across a local surprise, spread the word! Take your visiting friends to your favourite breakfast spot. Tell them about that amazing service you found.
Meet the people behind the products.
Consumers are making more of an effort to know exactly where their products and services come from. The advantage of purchasing independently is not only being able to get to know the story behind the product, but getting to know the people behind the business.
Make the most of the personal touch. Your locals can tell you all about the area and refer you on to other independents and offer customer service that’s second to none. Even customer retention of 5% can drastically improve overall profit down the line.
Support the local economy.
In its most basic form, when you shop local, you know your money has a better chance of staying in your community. Compared to buying from large chains, research showed that nearly double the amount of money from your purchase will be paid forward to the local economy, pretty good right? Not only this, you’re helping an entrepreneur get their foot in the door of business.
Knowing what’s available in your area also means gaps in the market can easily be identified. Leave the way open for potential entrepreneurs to get up and running with just the service or product that you need.