Why Shopping Locally is Vital!

Why Shopping Locally is Vital for Your Community's Economy: Supporting Local Businesses and Jobs!

Choosing the corner market or the restaurant closest to your home will help your local economy develop. Buying from local companies boosts the region's economy and supports job-generating industries, in addition to being a realistic choice. This local purchase also encourages entrepreneurship and keeps people in towns, as more jobs increase the population's buying power. It is critical that entrepreneurs and customers trust local businesses for this to happen.

What are the challenges you face? 

It may seem pointless to bring up technology when discussing retail challenges, but since we now have to deal with a new customer profile that is split between online and physical stores, the question still comes up.

Aside from the usual difficulties that the sector faces in a stable economy, the situation became much more complicated when the country's economic downturn affected consumers' buying power, negatively impacting profits.

Advantages of a having a small business? 

This is a valuable quality in today's globalized environment, because your consumers will always be interested in creative ideas that are tailored to their specific needs and implemented quickly. Another benefit of maintaining a lean system is that the company's leadership is close to the consumers. They also value being treated with respect by those in charge of the business. This proximity would also favor the provision of goods that are well matched with the needs of its clients, as well as a level of quality that no large corporation can match.

Disadvantages?

- Unified collection of taxes in a single rate

- Easier process of control and accounting

- Reduction of the direct tax burden

- Reduction of labour costs (Payroll), as there is no contribution from the Social Security