Supporting other small business owners won’t just benefit them, but can also offer numerous advantages for your own business.
When running a small business, it’s essential to identify who your competition is and implement the appropriate strategies to stay ahead. However, with more and more small businesses struggling to stay afloat during these challenging times, supporting each other has become more crucial than ever.
In fact, support from fellow small business owners can significantly impact just how well your own business survives and thrives during these tough times.
According to Landon Ferguson, “working together with other small business owners in the area has helped us not only survive but also encouraged us to enter a new venture that’s now more popular than ever.”
The question is, how can you show your support?
- Buy local
One of the simplest ways you can support your fellow small business owners is to start with local businesses when purchasing anything. For example, before placing an order with a huge-name retailer, why don’t you check out the local businesses in the area and see if they have what you need?
In addition, more and more businesses are now switching over to digital to offer their services and products to a broader audience. As a result, you can now easily shop small without leaving the comforts of your own home.
- Promote fellow small businesses on your social media platforms.
Nowadays, with almost everyone having at least one social media account, reaching your target audience has become easier than ever. In addition, as a small business owner, you also have your own network and connections.
So, why not help fellow small businesses out by using your own social media accounts to call attention to their products or services? Not only will doing so cost you nothing to implement, but it can effectively help out other businesses and entice potential customers to check them out as well.
- Select small businesses as your vendors.
Another excellent way you can support your fellow small business owners is by hiring them to serve as your vendors. Not only will you be helping them, but hiring small businesses as vendors can prove to be beneficial for your own business’s growth as well.
For example, your customers can enjoy a more hands-on and personalised customer service experience from a small business. With customer experience being one of the most crucial factors to a business’s success, this can only mean good things for your company.
During tough times, helping each other becomes a significant factor that contributes to our continued survival. Likewise, the same concept applies to supporting fellow small business owners.
While it’s vital to keep track of your competition, this doesn’t mean that you can’t set these rivalries aside and work together to ensure that everyone succeeds and thrives despite the circumstances.