Why Local Businesses are Important for Communities
The coronavirus pandemic has put small businesses in a tough situation. The longer businesses are closed, the longer they are suffocated.
Small businesses rely on the incoming revenue, while big companies and chain brands are much more likely to make it out of a stay-at-home order.
Why does it matter?
Supporting local businesses is very important. Even though local businesses are referred to as “small businesses”, the impact they have on the economy is large.
Small businesses provide employment and individuality. They give communities a sense of diversity, and are a very crucial aspect to the success of the economy.
An article from G1ve.org, Small Business Impact On Community: Small Business Have a Bigger Impact than You Might Think, states, “We may not hear as much about small businesses in financial news, but according to the Small Business Administration, 54 percent of the U.S. sales come from small businesses. That leads to a big impact on the stock market and our GDP.”
It is important to be aware of the need for local businesses. The impact they have on the community, employment rate and the stock market, reinforces the importance of supporting local businesses.
On Monday, June 8, Michigan is reopening. It is crucial to continue to support small businesses so they are able to get back on their feet.