Top 4 Reasons to Support Local Entrepreneurs
The Enterprise Hub @ M-SParc, established to help people start their own business by offering free space, a community of likeminded individuals and business advice believes everyone can help.
We can all support local Entrepreneurs. Buying from and supporting local businesses has great advantages and is key to local economic growth:
- Higher Wages
North West Wales has one of the lowest average wages in the UK – at least £5,000 lower than the UK average. This makes a big difference to the lifestyle, and the overall opportunities for people living in those regions. Guess who usually pays above the minimum wage? It’s not chain stores. It’s small, local businesses that understand how to provide a fair wage, and what the value of their employees is.
How it works – by spending money locally, you provide local jobs and help that business grow!
- Circular spending
If you buy from a large chain, and this applies to everything from a haircut, to a solicitor, to a pair of trousers, the money goes to the company. It doesn’t bring anything to the place where you live. If you buy from a local business, the money goes to a local person, often directly to the business owner who lives in the area. The money they make, they spend! They spend on putting food on their table, keeping a roof over their heads and buying clothes for their children. And because they know the value of the local spend, they’re more likely to spend their hard-earned cash locally – whether it’s a local petrol station, local pub, or local butcher. This puts money in other local business’ pockets, and so the circular spending continues to benefit the area!
How it works – If you start funding smaller businesses, they grow, and they spend at other local businesses who grow…you’re multiplying the number of local entrepreneurs!
- Best deals
People often believe they get the best deals online, so go online for everything from insurance to shoes to holidays. Did you know; when you shop online, your browser is tracking your purchase history via ‘cookies’ and can suggest adverts and increase prices depending on what you type in? Basically, online shopping offers the deal which benefits the seller. Shop locally, and you get to speak face to face to someone who’s main motive is to keep their business alive and successful – offering you actual benefits and real deals which benefit you as a buyer, and you have a real person to speak with if anything goes wrong and needs resolving.
How it works – You’re using these local entrepreneurs to your and their advantage, building a local community!
- The environment
David Attenbourgh’s told us, we need to think about climate change. Imagine how many air miles your items take to get to you, not to mention the packaging creating waste, and the hassle of returns. If you shop locally, everything is in one location and you take out a great deal of the carbon impact. Where you spend your money is affecting the earth.
How it works – you know by now, by spending local, you’re supporting and creating local entrepreneurs. By taking this step you’re also making a conscious choice to change the world!
You might have realised by now that you may be a bit of a world-changer and perhaps feel inspired to become an entrepreneur yourself, we at the Enterprise Hub want to help you. Get in touch with us to see how we can support you on your journey to become a local entrepreneur!
The Enterprise Hub is funded by the European Regional Development Fund through the Welsh Government.