7 ways to support small businesses in 2022
Small businesses are the lifeblood of most economies. They generate employment while accounting for a massive share of the country’s GDP but, like anyone, such businesses need a little help in order to compete with larger companies and scale when the time is right. This becomes especially tough during challenging economic times, which is where everyday people like you and me can help small businesses succeed.
India needs our small businesses, to help our economy thrive!
The more you support local businesses, the more jobs these businesses create while the revenue they bring in generally stays within the community. As such, the economic impact of the money you spend is far larger. Owners of small businesses know their customers intimately and treat them well to the point that they don’t just provide you with a product or service, they also make room for your needs and preferences. Having lots of small businesses means that competition increases so the quality of what you’re buying tends to increase as well, while the prices get low and innovation reigns supreme.
Small businesses are part of the fabric of the communities they serve, be it in a small village or a neighborhood in a bustling city. Small businesses give back to the community and are invested in it in a way that larger companies simply are not.
Here are 7 ways in which you can support small businesses in 2022:
- Shop locally: This may seem like an obvious one, but this is perhaps the best way in which you can support small businesses near you. We’ve all gotten used to the convenience of online shopping due to social distancing. As the country recovers from COVID-19, it’s important to think back to the beginning of the pandemic and you’ll recall just how much we relied on the neighborhood grocery stores to tide us over.
- Word of mouth: For small businesses, word of mouth marketing is their bread and butter, not to mention an affordable source of new customers. If there’s a new brand or ecommerce website you found and you absolutely love what they’re making/providing, talk about it! Tell your family, colleagues, and friends, and cause a domino effect, thereby bringing the business a little extra attention, which they can leverage into an opportunity.
- Reviews are a gamechanger: It’s a fact that the majority of consumers will refer to reviews when shopping for something they haven’t bought before so we know first-hand the positive effect of a great review. Whether it’s on the business’s own website, if they have one, or on Google, leave an amazing review for a small business that you have shopped from, be it about the product or the customer service. It helps way more than you would realize.
- Help set them up on Google: A lot of small businesses don’t have the money or the skills to go digital, so they don’t have a website and, very often, even a Google page for people to review them or know where they’re at. Take a few minutes to let them know how they can add their shop or business on Google or, even better, do it yourself since you can add a missing location.
- Get social about it: Most people use at least one form of social media, whether it’s Facebook, Twitter, Instagram, etc. If the business can’t be online, you can. Whether you bought food, a book, clothes, or an accessory for your car, mention the business on your social media and add an address for people to be able to find them.
- Lend a hand in small ways: The past few years have been rough on small businesses and this year is still posing to be a challenge for many because of inflation and increasing prices. If the business is having a hard time coping, offer to donate a little money. Since many owners wouldn’t want to take charity, buy a little extra than you normally would, or let them keep the change from your purchase or even not bargaining on the price of something will help them out. There are also non-profits and NGOs that you can donate to that will help businesses find relief when they’re struggling.
- Share your skills: Small businesses can come in all shapes and sizes. Whether it’s the kirana store that you buy your eggs from or the new soap making business a friend of a friend is thinking of starting, there are ways in which you can help. If you’re good at tech, give them advise about setting up a website or online payment, or if marketing is more your speed, give them ideas about promoting their business. A little consideration can go a long way.
India hopes to be a $5 trillion economy within the next few years and most economic experts are convinced that the key to achieving that number is by backing the small businesses in our country so they can reach their potential. The Government, just in the last few years, has launched many schemes and initiatives to support this sector. It is vital that we do our part to back these businesses that are the backbone of our economy and pillars in our communities.