Think Small - Shop Big

Today, Saturday, November 27th is Small Business Saturday - an initiative spearheaded by American Express OPEN, the division of the credit card giant that serves small businesses, the campaign supports the locally owned businesses that help give neighborhoods their character.

Here are some facts that are presented on the Small Business Saturday website:

• According to Civic Economics, when $100 is spent in a small business, $68 of that somehow gets returned back to the local community.
• According to the Small Business Administration, small businesses employ half of all private sector employees.
• Also according to the Small Business Administration, small businesses represent 99.7 percent of all employer firms.
• Again, according to the SBA, 60 to 80 percent of new jobs generated every year during the last decade have been from small businesses.

 

Civic Economics also produced a study which measured economic effects of small locally owned business and big-box retailers.

This study examined financial data from 15 locally owned businesses in New Orleans and compared their impact on the local economy to that of an average SuperTarget store. The study found that only 16% of the money spent at a SuperTarget stays in the local economy. In contrast, the local retailers returned more than 32% of their revenue to the local economy.

The primary difference was that the local stores purchase many goods and services from other local businesses, while Target does not. The study concludes that even modest shifts in spending patterns can make a big difference to the local economy. If residents and visitors were to shift 10% of their spending from chains to local businesses, it would generate an additional $235 million a year in local economic activity, creating many new opportunities and jobs. Likewise, a 10% shift in the opposite direction - less spending at local stores and more at chains - would lead to an economic contraction of the same magnitude. Another noteworthy finding of the study is that locally owned businesses require far less land to produce an equivalent amount of economic activity.

We are a small, locally owned independent business, and do believe that businesses like ours help the community in numerous ways. Yes, I shop at the big box retailers and don't want them to go away, but I like the diversity small businesses can bring to a community.

Shopping at a local independent business isn't just the only way you can help. They need you to talk about them with your friends. Share them every chance you get. So, in the spirit of helping all small businesses during Small Business Saturday, I encourage you to share some of the locally owned independent businesses you like, and I will start us off with some of the ones we use and like.

• Sabores Mexican Cusine - In Bentonville just down 8th street, we like this restaurant because we think the food is fantastic, and the service has been spot on. Lunch prices are very reasonable and the staff are always bright and cheery.
• Lewis and Clark - I love this place. I've bought camping and backpacking gear here and bicycle gear as well. Staff is very friendly and believe it or not, the prices here were cheaper than Sportsman's Warehouse when it was open.
• Sweet's Fudge Kitchen - up in Eureka Springs, this shop is a chocolate lover's dream. I have yet to have anything from this place that was anything less than amazing.
• Napoli's - To us, this is the most authentic Italian we've found in the area. I have had something different each time we've been, and never been disappointed.
• Melody's Choices - This shop is just amazing. Tons of cool gifts for any person on your list. I cannot remember a Christmas that has gone by where we haven't found something in here for someone special.
• Shirley's Flowers - Hands down the best flower shop in NWA that I have used. They are always beautiful and never disappoint.
• Jim's Razorback Pizza - We now live in Lowell, so use the one here and the pizza is always great. I went to college when Jim's was in the UofA student union. It was always a treat to get a fresh slice in between classes around lunch time. I don't think their pepperoni can be topped.
• Dilly Dally's - Ok, we've never been in this store, but if we shopped for the two legged variety of kids, this would be one place we would frequent I think. Such a fun looking toy store. Reminds me of Mr. Magorium's Wonder Emporium - at least from the windows.

There you go - there are many more that we like and use - I could list reviews here all day long, so just because it's not on this list doesn't mean we don't like it.

p.s. - I used Yelp for all of the review links. When we were in Denver, Yelp was our best friend. It never failed to deliver an outstanding restaurant that was within walking distance while we were in downtown. We don't use Yelp much in our community here - not like they do in Denver. So, I encourage you - if you like a local business - give them a review and help share with everyone else out there. I can tell you as a small business owner, that kind of feedback is what keeps you going when the hours are long and you seem to be stuck. I will if you do!