It’s no secret that globalization and big business can make life very difficult for small and local companies. Whether you’re a farmer competing against supermarkets, or a local credit union squaring off with the big banks, it can be hard to keep your head above water. But according to the US Small Business Administration, for every $100 spent locally, $68 will be kept in the community. So, it’s worthwhile to think about how to invest in your community. And the good news is, it doesn’t have to cost an arm and a leg. 

Shop Local

One of the easiest and most direct ways to support local businesses is to change your shopping habits. While it may be more convenient, and nominally cheaper, to shop at supermarkets and chain stores, it isn’t a colossal difference to source local products. But support doesn’t just mean opening your wallet. Here are a few creative ways that you can start helping small, local businesses.

Use Social Media

Most communities have local Facebook groups where you can either offer your services or ask for recommendations. For example, if you’re looking for baby clothes, consider asking around on social media for someone who can recommend a local business instead of cruising to the nearest Target. You’ll probably be surprised at the number of local options! 

Buy Gifts Throughout the Year

You’re not alone if you tend to buy all your Christmas presents over a few weekends in November or early December. But there’s a fantastic opportunity to spread the cost of Christmas across the whole year, all while supporting local business. If you keep your eyes open in local shops, boutiques, and markets, you’ll find that one of the benefits of supporting local businesses is that you can find some great gift ideas for loved ones. 

Plus, many small businesses have upped their e-commerce game following strict pandemic restrictions across the state. By ordering online, you get the convenience of online shopping and karma points for shopping locally. 

Review Local Businesses

If you buy from a small business, a review or product rating can go an incredibly long way in building the business’s reputation. Word of mouth is still a powerful tool, especially in the case of community businesses. So speak up if you love a product or service and support local business!

Join a Local Credit Union

Big banks exist to make a profit, while credit unions are nonprofit institutions. Local, community-owned organizations like DEXSTA can offer loans, banking, and other financial services. Usually, the only requirement for membership is that you are a member of the local community. So there is very little to lose if you are already planning to invest your money locally.

Now You Know How to Invest in Your Community

From this guide, it’s easy to know how to invest in your community. It’s clear to see that giving back doesn’t have to be complicated or expensive. Engaging with local businesses through social media, word of mouth, or online reviews can be hugely beneficial without costing you too much money. Joining a credit union can boost the local economy and give you confidence in a personal, local financial service. Contact us today to find out more about banking local with DEXSTA.