Supporting small businesses in the Boston Metro is important for the economic health of our local communities. Your patronage matters more than ever as independent retailers, restaurants and service providers grapple with the lingering effects of the pandemic. These have been compounded by labor shortages and supply-chain issues. Here are 7 great reasons to “shop small” and shop local!
1. For every dollar you spend in Massachusetts, about 68 cents of it stays in the local community, according to information released from the office of Governor Charlie Barker.
2. Small businesses in Massachusetts employ about 1.5 million state residents.
3. According to the Retailers Association of Massachusetts, consumer spending represents about 70% of the state economy. When you choose to spend your shopping dollars at locally-owned businesses, you help that business hire more people, boost wages, expand their business, and support local charities.
4. About 44% of Massachusetts small businesses lost nearly half of their revenue during 2020. The hardest-hit small businesses include beauty and fitness services, restaurants, bars, hospitality providers and recreation centers.
5. When a business folds up shop, it can mean lost jobs, lost wages, vacant storefronts and a reduction in surrounding property values. When multiple small businesses close, it creates a snowball effect that reduces the local tax base, which can impact revenue that supports municipal services, public schools, and more. In turn, this can mean a higher tax burden on property owners.
6. While small businesses find it hard to compete with big-box retailer volume pricing, small businesses typically outshine them when it comes to service! For example, a locally-owned, independent shoe store can provide fitting services, and offer special ordering for hard-to-find sizes. A locally-owned, independent bookstore can make personalized recommendations about works by local authors.
7. Locally-owned, independent businesses provide character and charm to our Boston Metro communities!
These are just a few reasons to shop small businesses this holiday season, and to support them year-around!
If you are a small business owner in need of a new location, let us know! When you are ready to begin, relocate or expand your business, team up with the Jay Nuss Realty Group, LLC! Whether you are thinking of buying, leasing, or investing in Boston Metro commercial real estate, we can help you find the ideal property, and provide experienced tenant representation!