What incentives do small businesses have to....
So this is very random... anyway I'm doing a project (summer class) that includes asking 50 people:
"What incentives do small businesses have to source products and services locally? Among other small businesses (as opposed to big businesses.)"
Yes I realize there are a lot of obvious answers but I feel that there are great minds and contributions on this forum and that's why I decided to post it here. Thanks for any input!
Money into the community = money into the business
Also congratualtions making partner before you can legally drink
Hahah yeah I had my own business before getting a part-time RE gig aside from school. I just didn't change the partner title though.
This depends on their line of business. Care to elaborate?
Heister, I was asking this question very broadly. Assume this question is basing this small businesses operating in a wide array of industries.
Basically it's great PR.
People are willing to pay a premium for items/services that they're emotionally attached to/connected with (which explains the whole 'green' and 'made in america' phenomena). In other words, it's basically a gimmick that will emotionally arouse your consumers and which will hopefully translate into higher revenue.
In addition to this, you may get some sort of support from your local politicians, who are always eager to align themselves with a 'socially conscious business' that has a 'strong connection with the community.'
And finally, this may translate into higher productivity among your laborers who may feel 'proud' to be associated with a 'local establishment.'
I'll go out of my way to not buy items that try to sell themselves on "Made in whatever place." My dollar is drawn to quality and value. I will not engage in forced philanthropy.
I'll certainly buy "Made in U.S.A.," for example, products if they're of overall higher quality and/or value. But I'm not subsidizing somebody else's incompetence or inability to compete globally.
When things go wrong, and operations rarely go smoothly, you can resolve issues in person (clear communication). Possibly fewer surprises than ordering from a big company that sources from areas of the world that the small business owner doesn't have familiarity.
Small businesses may compete via differentiated products for their customers and in turn they often have specific product/service needs that must be met (often overlooked if not emphasized in person).
Local suppliers may provide better customer service, or introduce prospective clients, which may be easier to convert into new clients due to geography/ease of networking.
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