Shopping Small Yields Big Economic Impact

Small businesses drive the American economy, and it is important to support them to ensure

Small businesses drive the American economy, and it is important to support them to ensure their continued contribution to the economy. Small businesses are defined as those that employ 1-500 people. The pandemic wiped out a massive amount of small businesses and this is the worst wave of small-business bankruptcies and closures since the Great Depression.

The Product Boss co-founders, Minna Khounlo-Sithep and Jacqueline Snyder, had initiated the Shop 1-in-5 Pledge to bring awareness in supporting small businesses but found that although people wanted to support small businesses, they weren’t sure where to go.

In addressing that issue, The Product Boss created the new platform Shop 1-in-5, an online directory for small businesses where people can go to support and shop small businesses that are listed.

The purpose of this initiative is to join forces and help small businesses make an impact and not only survive but thrive. The more attention brought to the movement of small business support, the more we can all support small businesses by spending more money shopping with them.

When you support a small business, you are supporting a family and a community. Your dollar goes further when you spend with small business. Your purchases can change lives.

Shop 1-in-5 is a global initiative where the platforms connect you to small businesses around the world. In essence, the website is a virtual mall of small businesses. The website helps to connect you to small businesses with ease.

The top benefits of shopping small businesses online:

1.    You are buying from a real person

When you buy from small businesses you are supporting their families and employees. You are helping them reinvest into the growth of their business to ensure their business will be viable for years to follow.

2.    You build relationships with vendors

The vendor cares about you and appreciates your business. Given the fact they are more likely to remember you, you can create relationships and feel like a valued consumer.

3.    Your purchase impacts a family

Your purchase will make a direct impact to the bottom line and profits for a small business go towards sending their kids to skating lessons and other activities that kids should be participating in.

4.    Your purchases impact the community

When you support small business, you support the team of people they employ. This helps build stronger communities and builds local economies. You’re helping to keep the economy going through your purchasing power. You’re helping to create innovation and growth.

5.    You avoid forecasted sellouts in big box stores

Shelves in stores are bare and announcements of product shortages are heard often. When you shop small business, you will not only have access to unique and personable gifts, but you will likely not be battling stock shortages.

6.    Experience more personal gift giving (story behind the product)

Many small businesses are making their products with attention to detail and stories are created behind these unique products. There is a personal level of care that goes into creating them, from the candle maker to the jewelry creator and beyond. Gift giving from a small business creates a personal touch and creates meaning for the gift recipient as well.

As hundreds of small businesses are an essential part of fuelling the economy, it is vital to support and shop at these businesses now more than ever. Many small businesses pivoted in the pandemic and created an online presence to keep their business afloat, and the Shop 1-in-5 platform connects you to these amazing products on a global scale. Small business shopping has never been easier!

https://www.forbes.com/sites/melissahouston/2021/11/03/shopping-small-yields-big-economic-impact/