It’s No News To Buy From Small Businesses

Purchasing locally and supporting small businesses is not a new phenomenon. Many companies have long included small AND diverse-owned businesses in their inclusive sourcing efforts.

We see many companies shifting their focus from buying from diverse-owned businesses to buying from small busineses. For me it’s not an either or – it’s a complementary effort. It is no news that diverse-owned businesses often operate as small businesses, and supporting local and small suppliers has always resulted in numerous positive economic outcomes.

1. Job Creation and Economic Growth: Local sourcing increases employment opportunities and stimulates economic growth by keeping money within the community. This leads to more stable and prosperous local economies
2. Increased Local Spending: Spending at local businesses generates more local economic activity
3. Community Engagement and Resilience: Supporting local suppliers fosters strong community relationships, enhances quality control, and contributes to a more resilient local economy

By focusing on local, diverse-owned and small businesses, we not only boost economic resilience but also create jobs and opportunities locally. This approach supports the entire community, fostering inclusivity and prosperity.

Given that 99% of businesses in the EU are SMEs, we should continue to support these companies as they form the backbone of our economy.

Together, we can build stronger, more equitable communities by embracing the power of local and diverse businesses.

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