July is Independent Retailers Month. Whether you support a brick and mortar store or shop online, your purchases not only benefit the business and its employees, but it also supports the local community and the national economy.
During these uncertain times, small businesses, classified as those with less than 500 employees, need our support more than ever. There are nearly 32 million small businesses in the United States that employ over 47 percent of the American workforce.
One of the most important aspects of small businesses is the economic support they provide local communities. If you spend $100 at an independent store, $68 of your purchase will stay in the local community. In contrast, if you spend the same amount at a non-local establishment, only $43 stays in the local market.
Unfortunately, a report in April found that due to the Covid-19 crisis, more than 100,000 independent businesses had to make the decision to close their doors for good. This is due to the reality that mom and pop shops have smaller profit margins and can’t always financially survive when disaster strikes.
Millions of other businesses that were lucky enough to keep their doors open, were still greatly affected by the shutdowns. Independent Retailers Month couldn’t come at a better time to give these businesses–and their communities–a much-needed boost.
As you shop this July, be aware of your spending habits; take a trip to your local town center and support hard-working business owners in your community. Your purchase will go a long way.