5 Reasons Why You Should Support More Local Businesses

Let’s be honest – it’s easy to want what everyone else wants. We’ve all been doing it since we were children. But what makes us unique anymore? Isn’t there something special about sticking out from the crowd? That’s why you should consider shopping locally more often than shopping for larger brands. Not convinced? Here are five reasons why you should support local businesses.

Help Grow the Local Economy

One of the main reasons it’s important to support local businesses is because they are putting your dollars right back into your surrounding economy. They shop locally and pay their taxes in your community, too. According to a study on why local matters, “large retailers systemically tilt the playing field in their favor by skirting their tax obligations, as well as that locally owned enterprises generate more tax revenue for cities, with less cost, than sprawling big-box shopping centers.” Which are you benefitting from more? 

Create More Local Jobs

The same study shows “that locally owned businesses employ more people per unit of sales, and retain more employees during economic downturns, while big-box retailers decrease the number of retail jobs in a region.” It just makes sense that while a majority of the money is being kept locally, new local jobs will start to form.  

Experience Higher Quality Customer Service

You simply can’t experience the same level of customer service from a national chain that you will experience at a local business. Chains have thousands of customers, and losing a couple from poor customer service won’t hurt them. Local businesses, however, are more attentive to retaining their customers. They know it can cost seven times more to acquire new customers than keep current ones around.

Let Them Put You First

With that statistic in mind, understand how valuable you are to their business as a customer. This means they’re more willing to go above and beyond to ensure you’re happy with their product. You’ll even be surprised when they tell you about a great deal you missed, instead of just taking your money.

Know Who’s Selling to You

Remember, they’re business isn’t the only thing that’s local – they are, too! Build a rapport with the person who’s selling to you so that you can stay connected on a larger scale. You never know when they may feel like donating to community activities or sponsoring them. Plus, they are real people with emotions and feelings. Invite them out to spark a meaningful friendship.

At Central Federal, we’re proud to be the local bank in Rolla. We truly do offer a chance to grow our great city’s economy, create more jobs in the region, provide high quality customer service, put you first, and become your friend. Give us a call at (573) 364-1024 or stop by our location at 210 West 10th Street to talk with us today!