Business Solutions for Spring 2018

SPRING 2018 3 SOLUTIONS Speak up to support our community’s small businesses Be Vocal About Buying Local Panora Telco and Guthrie Center Communications are big believers in small businesses. If we work together as community members, we can help small businesses succeed despite the increasing competition from national chains and online mega-retailers. Given the prevailing emphasis on simply finding the cheapest price when making pur- chase decisions, it’s important to remind our friends and neighbors of the substantial community benefits of buying local. They include: Improving Our Local Economy – Each dollar we spend at small local businesses returns three times more money to our local economy than one spent at a chain and almost 50 times more than buying from an online mega-retailer. 1 Creating Local Jobs and Opportunities – Not only do small local businesses employ more people directly per dollar of revenue, they also employ an array of supporting services by buying local themselves. They hire local architects, contractors, accountants, insurance brokers, computer consultants, and attorneys. They also tend to carry a higher percentage of locally produced goods than chains, meaning more jobs for local suppliers. In contrast, a chain store is typically a clone of other units, which eliminates the need for local planning and uses a minimum of local goods and services. Keeping Our Community Unique – Small local businesses give a community its distinct character and personality. Conversely, a preponderance of chain restaurants and stores creates communities that all start to look alike. By supporting the one-of-a-kind businesses in our community, we help maintain the uniqueness that makes living here enjoyable and attracts visitors. Giving More Support to Local Causes – In general, small local businesses donate more per sales dollar to local nonprofits, events, and sports teams compared to big businesses. Their owners and employees are also more likely to “do good” through volunteering at community events and serving on local advisory boards. Whenever possible, Panora Telco and Guthrie Center Communications encourage you to buy local (and dine local, play local, and give local) and spread this message to others. It’s up to all of us to keep our community thriving. 1 https://www.amiba.net/resources/localhero/ GET READY TO CELEBRATE SMALL BUSINESS WEEK Since 1963, the Small Business Admin- istration (SBA) takes the opportunity each year to highlight the impact of outstanding entrepreneurs, small business owners, and others from all 50 states and U.S. territories. Small Business Week is held during the first week of May. More than half of Americans either own or work for a small business, and they create about two out of every three new jobs in the U.S. each year. During National Small Business Week, the SBA recognizes the 28 million small busi- nesses that drive our nation’s economy and showcase the resources and services the SBA provides to entrepreneurs at every stage—whether they’re just start- ing up, expanding, or getting through a tough time. If you own a small business, take a moment during Small Business Week to remind your customers and supporters why you started your business by sharing your story on social media. For more ideas on ways to celebrate, visit www.sba.gov/nsbw/.