[Rek jou cheque] Do the right thing, help local traders': It grows and strengthens our communities in the end
I have been writing this personal finance column for many years.
My intention is always to inform, educate, and empower my community. Based on the feedback I receive, I believe I am doing that.
Today, I am going to use this space to address something very close to my heart: the importance of supporting our local community vendors, businesses, and markets.
The entrepreneurial spirit in our community is nothing short of amazing.
Whether people are buying and reselling goods, making food, cakes and sweet things to sell from their homes or at a market, making clothing, or supplying a service, they are trying.
And in trying, they are creating much-needed jobs in many sectors.
You may think that someone is “only selling burgers and boerewors rolls”, but that person has added to the livelihood of those who work in the bakery that sells the rolls, the shop that sells the gas for the stove, the winkel that sells the sauces and the packets, the butcher that sells the wors and the burger patties, the abattoir that supplies the meat for said wors and the patties, the farmer who supplied the animals and the farmer who supplied the potatoes and onions to the market, from where the stalltjie- owners bought it, cooked it and sold it to the public.
All this from a person who we think is “only selling burgers and boerewors rolls”.
The very same thing with a small clothing brand. It isn’t just about making a dress and selling it. It involves creating employment for those from the beginning to the end of the supply line - from the people at customs who unload containers, fast forward to the fabric stores who sell material, the pattern makers, the cutters, the seamstresses, the drivers involved in all of this, social media managers, the models, the photographers, right up to the courier who delivers the product to your door.
Our “small businesses” contribute significantly to employment and income generation.
Then, we get to the people who put everything on the line to set up shop, whether that be getting deposits and set-up costs for a physical shop, getting the money to purchase a food truck for trade, or opening a restaurant or shop that entails employing staff—from cleaners to managers.
Do you think this is easy for them in these tough economic times?
We will pay an arm and a leg for parking at upmarket malls and shopping spaces, but then moan when a local market charges an entry fee, but has free parking.
Our community has the best barbers, hairdressers, fitness trainers, mechanics, beauty therapists, seamtresses, bakers and cooks.
Yet, we are reluctant to pay them a fraction of what we are willing to pay when we go to fancier places in malls and more affluent areas.
We will pay those establishments ten times more for the services of the same person, whose lower price we are not willing to pay when they service us in our communities.
It seems we actually prefer to see our family and friends as “workers”, rather than “bosses”.
And that, for me, is what it all boils down to. We would rather see another person like us fail than see them progress in life and, heaven forbid, move ahead of us.
Sadly, we remain our own worst enemies.
For those who still don’t get it, supporting local vendors and businesses is vital for several economic, social, and environmental reasons.
Here’s a breakdown of why it’s important:
1. Boosts the Local Economy and Keep Money in the Community
– Local businesses often reinvest more of their earnings into the local economy than large corporations. This helps to create a multiplier effect, where the money spent locally continues to circulate and benefit the community.
– Small businesses are significant employers in most communities, providing jobs and reducing local unemployment rates.
2. Promotes Community Well-Being
– Local businesses foster personal connections between business owners and customers, creating a sense of trust and community
– Local vendors contribute to a community’s distinctive culture and identity, making it more vibrant and attractive to potential buyers
3. Supports Innovation and Entrepreneurship
– Local businesses often introduce innovative products and services that cater to the specific needs of our communities, because they know our communities.
– By supporting small vendors, you help maintain a marketplace with diverse options rather than one dominated by a few large corporations.
4. Enhances Local Resilience
– A strong network of local businesses can act as a buffer during economic downturns, providing stability when global corporations may pull out of the community.
– Local vendors often step up to help during crises, offering essential services and products when larger chains may be less responsive.
By supporting local vendors and businesses, you are investing in our community’s future, fostering sustainability, and ensuring a vibrant and diverse local economy.
There are some local businesses and vendors who are going crazy with their prices – but more often than not, our local vendors are affordable, deliver great quality and service – and support initiatives in our communities, because they know that is where they come from.
May I suggest that over this holiday season, and going forward, we:
– Stop asking for discounts from local businesses who (from price comparison) we can see are already cut to the bone.
– Attend the local markets and events
– Make a conscious effort to support our local vendors and service providers
– Become more aware that supporting local businesses is a means of much-needed job creation for our family and friends.
– Let go of that mentality that tells us that “name brands” is better than local products and services.
When we support our local businesses, we strengthen and grow our community. There really is no excuse not to do so. Support local. It’s the right thing to do.
dailyvoice@inl.co.za