Today is Small Business Saturday, when we celebrate everything that the UK’s SME businesses have to offer. Here are 5 great reasons why everyone should buy local on #SmallBizSatUK (and every day).
Did you know that there are 5.5 million private sector businesses in the UK, and that fully 99.9% of them meet the definition of an SME (Small and Medium Sized Enterprise)?
Buying from local SMEs isn’t hard, but there’s sometimes a tendency to believe that buying from larger businesses offers better value and security.
Here are 5 great reasons to make the effort and buy locally from small companies.
1. It strengthens the local economy. Studies show that small businesses are much more likely to recirculate their income in the community by buying from other local suppliers.
2. It boosts employment. Between them, SMEs are the UK’s biggest employer, with 60% of people working in small businesses.
3. It helps the environment. Sourcing locally helps to avoid or at least reduce the movement of goods and people by road, cutting congestion and traffic pollution.
4. It boosts investment in the community. SMEs are often owned and managed by people who live where they work, and are therefore more invested in their local community.
5. It can help raise taxes that support public spending. SMEs are far less likely to manage their affairs in a way that results in significant tax avoidance, meaning there’s more for local and central government to spend on public services.
The thing is, if we don’t all make the effort to shop with small, local firms, they eventually do get edged-out and, once they’re gone, they’re gone.
So get out there and shop local today!
And, if you’re a large business, think about how you can incorporate more SMEs in your supply chain by removing barriers (like overly complex pre-qualification questionnaires and contracts) in order to boost sustainable procurement and create a more diverse and resilient supplier base.