This Thanksgiving, Ohio Valley Goodwill is thankful for the small businesses that are creating jobs and making a difference in our local community. Here are some reasons why:
Small businesses boost the economy
Small businesses have a significant impact on our local, state, and national economies. According to the Small Business Administration (SBA), small business employs 77 million Americans and the 30 million+ small companies across the country account for 99.9% of all U.S. businesses.
The SBA goes on to report that small businesses contribute to 54% of U.S. sales. The healthy employment rates and sales produced by small businesses have an impressive impact on the financial health of our communities and our country.
Small businesses keep it local
Many people love to shop locally as a way to help keep their local economy healthy. That dynamic applies to local business owners as well. Local companies are more likely to support other small companies in the community by utilizing their supplies, financing, business services, and more.
It’s been reported that small, independent retailers keep more than three times as much money per dollar of sale within the community. That study indicated that for every $100 a person spends at a local business, $68 stays in town. That’s compared to the big box retailers, where only $43 on the dollar is retained.
Another local economic factor that small business owners are adding? Local jobs. Because many small companies operate locally, they are helping to keep more people in the community employed, and that’s a very good thing!
Small businesses add strength and vitality to the community
Small business profits also strengthen local infrastructure, helping to maintain schools, parks, roads, bridges, and sidewalks and support critical community services like police departments, firefighters, and a long list of social services.
Small businesses give consumers choice
People like choice, and small businesses making sure they get it! They innovate and provide unique products consumers can’t find anywhere else. They improve on products that have gone stale. They ensure that healthy competition is continuing to spur growth. With many types of businesses competing to be better, communities and the people in them benefit from having a diverse list of choices.
Big-box retailers and the mega e-commerce companies can’t match the personal commitment, loyalty, and ownership that small business owners feel for their communities.
Small businesses, we thank you!
To all entrepreneurs and business owners, we salute you! This Thanksgiving, give yourself a small pat on the back for everything you do for your local community. Ohio Valley Goodwill Industrial Services would particularly like to thank our many small business partners over the years who have trusted us with their outsourcing services. Our business partners help to fuel the Goodwill mission of benefiting all citizens who live, work, and play in the communities we serve, especially those with disabilities and veterans.
If you’re looking for a local Cincinnati outsourcing provider for help with assembly, kitting, packaging, fulfillment or warehousing, give us a call today. We’re happy to give you a free quote and a free tour of our facilities.