Updated: Aug 28, 2018
Supporting local businesses can take many forms, and there is no one solution that is going to solve every problem in the shop local realm. But before businesses look to the general public of consumers there is one simple step that they can do that will help keep more money local.
That is, as a local business you can choose to support other local businesses.
It may be stating the obvious for some businesses and there are many communities across Australia that have a very strong local B2B trade. However, having spent a lot of time interviewing people with all sorts of backgrounds throughout Australia, there are still plenty of examples where local businesses are missing out on this opportunity.
Although we now live in a global marketplace we cannot forget some of the simple advantages that can come from exchanging goods and services amongst local stores. I am not necessarily saying that we have to go back to a barter economy, but rather just seek opportunities where you can reciprocate local trade.
Of course not all goods and services can be sourced from businesses within your local area, and price or range may not always suit your business needs. However by shifting just a small percentage of your business purchases to other local stores can have a big impact to the community. Therefore it is definitely beneficial to at least seek local opportunities before opting for other channels.
This is a particular useful strategy for businesses as it is something that they can have much more control over compared to the more difficult task of luring in local consumers.