Local Retailers Preferred

Owning a small business definitely has it's tribulations but why does it pay to be a small local business? In a case study conducted by Civic Economics in August 2012 on consumer spending, the statistics proved that 52% of consumers that were surveyed spend their money at the local level. This means that consumers spend more money to their locally owned businesses retailers over the national chain retailers.

In another study conducted by Garret Martin and Amar Patel of the Maine Center for Economic Policy in December 2011, "$100 spent at locally owned businesses generates an additional $58 in local impact" whereas on the other hand, "$100 spent at a representative of a national chain store generates $33 in local impact." With statistics like this, local businesses need to advertise to their local communities to attract local customers.

This statistic means that the smaller local retailers are favored over the national chains. This is due to the fact that independent businesses improve the economy in the local community. Locally owned businesses produce local jobs, use local suppliers, and the money that is spent in their establishment is circulated back into the local economy. This survey can put those small business entrepreneurs at ease because opening a new business is tough and this makes it less overwhelming to look at the statistics from this survey.

Advertising for small retailers can also be simple. When you're a small business, you want to be able to cut corners whenever possible. So finding a printer that can take care of all your marketing needs in one place will definitely be most cost efficient. When printing flyers and direct mailing, to guarantee the best results, small businesses need to turn to a company that has extensive experience working with small businesses. These companies will know and understand the struggles of being a small business with a limited budget. Advertising should never be cut out of any business plan, large or small, because when a business does not advertise, they decrease the chances of being noticed.