Why Small Businesses Are Worth Your Support

With around 31.7 million small businesses in the U.S. alone, you’d be surprised how much you shop from these mini companies! Whether it’s online over vendors like Etsy or down the street at the small mom and pops store, the revenue these small businesses make helps fuel the economy. Not to mention, they also provide jobs and innovative merchandise to consumers. However, that’s not all that small businesses do. Let’s look at all the reasons why these little companies are worth all of your time and support! 

Small Businesses Provide New Opportunities 

Big corporations aren’t the only ones fueling the job market. According to the U.S. Small Business Association (SBA), from 1995 to 2020 small businesses accounted for 12.7 million new jobs created versus large corporations which only made 7.9 million. This, of course, means that small businesses offer more job opportunities for their surrounding communities. With these new jobs, small businesses open even more of a plethora of opportunities. New employees of small businesses gain financial stability and independence. The economy of the surrounding community can grow. New services and products are introduced to the public and so much more. 

Speaking of new services and products, small businesses also allow another type of opportunity: innovation. Since small businesses attract all kinds of talents and employees operate more close-knit, they are able to bring and generate new ideas and solutions to serve the public. Our small business, for example, assists with fellow small businesses’ growth through both administration and bookkeeping services! This type of innovation even can have enough reach and success to eventually affect consumers’ everyday lives.

Small Businesses Help Add Inclusion To The Market

Because anyone can basically start a business of their own, that means many different ideas and services from all walks of life are added to the market. This is great news, as diversity helps consumers find specific products and services for their needs. Diversity within small businesses also helps with introducing new things to the public. Blendz Apparel, for instance, is a small business that aims to diversify dancewear by offering apparel in various shades for people of color. And Bonita Fierce is a small company whose purpose is to share scents “inspired by Latin@ heritage and home” with consumers. COR Bookkeeping & Consulting ourselves is a small faith-based business that operates under the values of patience, thoughtfulness, love, and growth. 

It’s important to support small businesses looking to add diversity and inclusion to the marketplace so that everyone’s needs are met. One of the best ways to do so is through your wallet. Buying the goods these businesses provide helps them know there’s a demand they need to keep fulfilling. And if you want to do more, there are other ways to support small businesses! Shouting them out on social media, recommending them to a friend, or leaving a review on their website helps just as well. 

Small Businesses Give Back To Their Communities 

Small businesses love to give back! In fact, data compiled by SCORE in 2019, showed that small businesses donate 250% more to local non-profits and community causes than larger enterprises. Local charities, youth organizations, and local responders were the top three causes small businesses donated to as found from the data SCORE gathered.  

Some small businesses end up partnering with local organizations or even launching their own non-profit with the goal of helping their community. Our non-profit organization, COR Helping Hands, is dedicated to helping other businesses with their philanthropy through the means of marketing and administrative tasks in order to get the word out! 

And we know you love to give back too! Semrush reported that 53% of people found that buying from small businesses that give back to their communities gives their shopping habits more of a purpose. If you want to help your community grow, then supporting small businesses is something you should definitely look into. Small businesses work their hardest to provide services and products for you and your community, so they deserve as much love as possible!