Whether it’s your favorite neighborhood café or a local tech startup, small businesses play a big role in being part of the backbone of our economy. These businesses are one of the main drivers of innovation in the country. These ventures also create thousands of jobs yearly and help local areas thrive.
However, small businesses have faced many significant challenges in the past year and a half. The global pandemic forced many small companies to adapt rapidly or face closure. Right now, they need all the support they can get to recover and grow.
In this blog, we will delve into the various ways we can support small businesses during national small business month. From shopping locally to advocating for policies that foster their growth, we will explore the power each of us has in helping small businesses grow and succeed.
Nevada’s Small Business Landscape
There’s a reason why many small business owners see Nevada as one of the best states to operate in. You don’t need a lot of capital to kickstart your business in Nevada. The state has low starting costs and even lower tax rates.
Because of this, there are now 297,183 small businesses within the state. These SMBs account for 42.2% of the state’s workforce, which translates to around 523,771 Nevadans working in small firms.
Although Nevada’s small business landscape shows great potential and growth, it still needs significant improvement.
A 2022 survey from the Nevada Small Business Development Center (SBDC) revealed that adapting to rising inflation is a major challenge for small businesses. Some respondents also said that they find developing a business expansion plan difficult.
The survey shows that SMBs in Nevada need help and assistance from their community now more than ever.
Six Ways to Celebrate National Small Business Month
Every year in May, the country celebrates all the hard work and determination of the country’s small business owners. If you’re looking for ways to celebrate national small business month, here are a few ideas you can try out:
Shopping locally is one of the best ways you can help your local SMBs. Try shopping at independent stores and local food joints instead of going to major restaurants and retail chains. If you need a service, look for a local provider nearby. Spend your money wisely and help community businesses by getting their products and services.
Spread The Word
Word-of-mouth means a lot to small businesses. Positive reviews can help them attract new customers and increase their overall visibility.
If you have a go-to local store in your area, promote them on social media. We also suggest you leave positive reviews on their websites.
Buy Gift Cards
Gift cards are another great way to help small businesses spread the word about their products. Even if you don’t need anything right now, you can always use their gift cards for later.
Engage on Social Media
Over the years, social media has done wonders for small businesses nationwide. These platforms have helped them connect with their customers, and by actively engaging with them, you can expand their online reach.
Like, comment, and share their posts to help amplify their message. We also suggest sharing their accounts with your loved ones.
Attend Local Events
Most small businesses use local events to showcase their products and services. So if you want to discover a new small business or show your support to your community, attend local events within your community.
Advocate For Initiatives
Advocating for policies and initiatives that help small businesses is one of the best ways to support them. Participating in community discussions can help your state create a thriving environment for small businesses.
This tip is especially helpful if you plan on starting your own small business in the future. The policies you’ll support can help you succeed in the long run.
Why You Need to Support Small Businesses
Besides their major challenges, there are plenty of other reasons you should support local small businesses in your community.
Affects Local Economy
Whenever you shop local, you’re reinvesting money into the community. The tax revenue that your local government gains from small businesses will be used to improve your community. You’ll get to reap more benefits in the long run if you choose and continue to support local shops and businesses.
Creates More Jobs
Not only will you help strengthen your local economy, but you could also aid in creating more jobs for your community. These opportunities will greatly benefit the locals in the area.
Better Customer Service
Small businesses value your business more than big box stores do. Every positive review they receive matters, so they work hard to provide customers with excellent customer service.
If you have any concerns with your recent purchase, their employees will help you. You no longer have to deal with automated responses from a chatbot.
Small business owners know they need to be innovative to stand out against their major competitors. This kind of mentality helps nurture innovation. It pushes them to develop unique products and create solutions tailored to solve specific problems.
Reduced Carbon Footprint
Since most locally-owned businesses make many local purchases, their carbon footprint is significantly smaller than big companies. Furthermore, you can help create less traffic and air pollution since they’re in your local area.
Shop Small Today
Ultimately, small businesses are leading our communities to a better future. Small businesses bring a lot to the table. They can help our local economy thrive, creating more jobs and better wages.
When we shop locally, spread the word, and attend events, we’re helping our neighbors succeed. Together, we can make a real impact and ensure our communities thrive with the help of our small business heroes.
To learn more about the national small business month, visit our website here.
DISCLAIMER: The above material has been prepared for informational purposes only, containing opinions of the provider, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Please consider consulting tax, legal, and accounting advisors before engaging in any transaction.