What is the impact of Small Businesses on your downtown?

Happy Small Business Week!

There are between 25 and 27 million small businesses in the U.S. that account for 60 to 80 percent of all U.S. jobs, according to the Entrepreneurship Magazine. If we take a step back and really think about this, some of these 26 million small businesses account for well over 200 million jobs within the U.S. alone.

It's clear that these small businesses are some of the biggest employers who help in keeping money local.

In a recent study in Salt Lake City, Utah, it was concluded that shopping at locally-owned stores generates almost four times as much economic benefit for the surrounding region as shopping at a chain, and that eating at a local restaurant produces more than twice the local economic impact of dining at a chain restaurant.

But beyond the economic benefit of small businesses, the human aspect and sense of community they bring to a downtown is invauable.

Walking into a restaurant, being greeted by the owner and asked if you'd like "the regular".

Visiting a clothing boutique and being asked if the dress you bought for your cousins wedding last month worked out well for you.

Knowing the farmer who sells his produce to you and your family every Saturday morning at the downtown market.

These business grow within our communities over time, weaving their importance into each communitiy members' life in some way, shape or form.

From all of us at HotSpot, we'd like to take a moment to thank all the amazing small businesses that we get to work with everyday. We are continously inspired by the amazing merchants that we get to work with day-in and day-out who are working tirelessly to build thriving downtowns. Without the continued dedication of these folks, our downtowns wouldn't be nearly as strong as they are today.

Our call to action? Visit your favorite local shop or restaurant, and show your appreciation for these heartbeats of our downtown.

#LoveYourLocal

Sources:
- http://smallbusiness.chron.com/important-small-businesses-local-economies-5251.html - http://www.forbes.com/sites/rebeccabagley/2012/05/15/small-businesses-big-impact/#74ef2f09c0d9