Here's Why You Should Support Local Businesses on Small Business Saturday

Supporting small businesses could benefit you as much as it benefits them.

It's no secret that a lot of local businesses took a major blow in the course of the pandemic. In fact, many were forced to permanently close due to the devastating impact the economic crisis had. That's all the more reason to help those businesses that did survive continue to thrive. Here are a few good reasons to pump money into local establishments on Small Business Saturday, which is the Saturday after Black Friday.

1. Small businesses are good for communities

When small businesses thrive, their owners don't just pocket the money and run. They tend to pump that money back into their businesses by creating jobs. And local jobs are a good thing to have.

2. Small businesses can offer better products and services

When you order items from a big box store or a site like Amazon, it can be difficult to know what went into producing those items. But when you buy from a local business, you'll often get an opportunity to talk to the owner about product sourcing. That may enable you to shop with more confidence.

Now, one thing worth noting is that shopping at small businesses can often mean paying more for a given item. But think about the quality you're getting in return. A $20 sweater from a big box store may seem like a better deal than a similar one costing $40 at a local boutique -- until that $20 sweater unravels after a couple of months and the $40 one holds up through numerous wears and washes.

Finally, you'll often get better customer service from a small business than a large chain. If you go in to return a product at a large chain and you're outside the store's return window, chances are, you'll be out of luck. A big reason for that is because a large chain doesn't need your business when it does hundreds of millions of dollars of sales each year. A small business, on the other hand, may be more apt to work with you in such a situation.

3. Small businesses can help property values improve or stay strong

Communities that have lots of thriving businesses are attractive to prospective home buyers. A nice array of local businesses can help home values improve. On the flip side, when too many businesses shutter, it sends the message that a given community isn't worth investing in -- or buying a home in. That could lead to lower property values.

It pays to shop locally

If you're short on savings and have already maxed out your holiday budget, then you shouldn't go into debt in an effort to pump money into local businesses. But if you still have your fair share of shopping to do, then it pays to support local establishments as much as you can.

American Express reports that 78% of small businesses say holiday sales will impact their ability to keep their doors open in 2022. By supporting these establishments, you could end up doing your part to help your community and yourself. That's reason enough to look outside of those big box stores.