Restaurant & Store Survival Guide: How to Help a Local Business Stay in Business
“Don’t it always seem to go
That you don’t know what you’ve got
‘Till it’s gone?”
By Meghan S.
Why are local businesses so important?
- Preserve local culture: Whether it’s a grocery store, an eyeglass repair shop, or an ice cream parlor with the most mindblowing milkshakes for miles, these small businesses add to the community you live in. They are where your memories are made, and they give the place you call home a flair all their own.
- Improve your local economy: For every $100 spent at a non-local business or corporation, only $43 cycles back into the community as taxes, wages, and donations. Compared to the $68 that feeds directly back into the community when spent at a local businesses, the math is simple. Buying local has a more positive long-term impact on you and your neighbors.
- Create jobs: In the post-recession period from mid-2009 to 2011, over 67% of new jobs were in the small business sector. As if that statistic isn’t staggering enough, let’s talk spending. For every $10 million spent at a local business, 57 jobs are created.
How can you preserve your favorite local business?
- Forge Relationships with the business: Whenever you suspect that you could improve or provide something to compliment a business you cherish, speak up! Whether you lead a Girl Scout troop and are searching for a space to hold your meetings, or want to start a weekly writing club for adults or children, the possibilities are endless. If there’s a nook in your town’s bookstore that would be perfect for your needs, see if you can make arrangements to improve your own ventures and that of the local business by giving them access to a whole new market!
- Exercise your buying power: While this may seem like a no-brainer, if you want to keep a business open, spend your money there. Another bonus? Non-profit organizations receive an average of 250% more support from smaller business owners than they do from big businesses. This means that your hard-earned dollars are doing more than just keeping your favorite spot flourishing, they’re helping the neighborhood grow, too.
- Start a GoFundMe business fundraiser: Whether it is a quaint little store or a beloved restaurant you want to raise money for, you have an entire network of people right at your fingertips. Why not utilize them to help raise the funds your local business needs to stay open so they can prosper once again? There is no shortage of examples for how you can make this happen.
Here are a just a few successful business crowdfunding campaigns on our platform:
This Greenwood, Seattle bike shop was hit hard in the wake of an early morning gas fire back in March of 2016. Not only did they lose thousands of dollars worth of inventory, they lost the structure their business called home. It didn’t take long for the community to rally around those affected by this tragic misfortune. Local artists painted murals around the remnants of buildings to improve moral and raise money at auction, and children at a local school even penned stories and poems about the iconic neighborhood shops that fell victim to the flames and sold them in other local businesses in Greenwood. Days after the event, Daniel Friedman started a GoFundMe campaign for her partner and co-owner of the shop. In only two months, the campaign exceed their goal of $45,000 and they were able to move their business to a new location where they can thrive once again.