The Solution to Rebuilding the Economy in 2021: Shopping & Supporting Local
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2021 has been a tough year for business. The pandemic has caused widespread losses across most industries, and the lockdowns have ended trading for many. Combined with the recent looting and unrest, many companies are now fighting for survival, as their stores and supply chains have been heavily affected. The good news? We can all play a part in rebuilding the economy, and that’s by supporting local businesses – something which falls into the mission of Office National and community members. Every member of the Office National family runs their store like their own company – they are all local business leaders in their communities. Responsibility and accountability are two of the company’s core values, and the focus has always been on uplifting the communities and improving the welfare of the people that live there. Here are six reasons why we all need to: Think | Shop | Support Local with Office National.
1. It creates jobs.
It’s a simple but powerful benefit: by supporting local businesses, you’re helping create more jobs. Small to medium businesses employ most people outside of the government, and that’s why their success is crucial for the rebuilding phase of our economy.
2. It retains more money within your community.
By supporting local businesses instead of global franchises or chain stores, the money is more likely to be used again within the community, driving up local economic activity, helping to pay more salaries and taxes, and it drives more business in the network. According to research by Civic Economics, for every Rand, Namibian Dollar or Lesotho Loti you spend at an independent company, three times more money returns to the local economy (and 50 more times than an online retailer!). The money goes back into your community where you live and work and helps support valuable programs.
3. It creates unique buying choices and community flavour.
Supporting small entrepreneurs and businesses results in unique products and services that aren’t available anywhere else. It offers more variety for consumers and provides more local character.
4. Local businesses will spend more money in the community.
Not only does the money circulate more within the community, but local companies are also more likely to give money to local charities or to invest in local development and initiatives. It builds stronger communities by linking neighbour businesses in a web of social and economic relationships and driving local fundraising for charity.
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5. It improves healthy competition in the community.
You can help create more competition, keep prices low, and drive research and innovation by growing a local marketplace of small and medium-sized businesses.
6. It helps reduce the environmental impact.
If people choose to buy local products or support local services, it can help reduce the transport and outsourcing of goods. It creates less traffic and air pollution and is much better for the environment.
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