Small Businesses Are Winning Big

There is good news out there for small business in the United States! Often seemingly living in the (large) shadows of big box stores and large corporations, a 2015 Cox Consumer Pulse survey on small business showed that 92 percent of consumers around the USA shop at a small business at least once a week. The survey found that 46 percent shopped small businesses three or more times a week.

With a recent shift toward improving communities and business at home, more and more consumers are making the effort to “shop small” by patronizing local, small businesses. This is especially true around the holidays but appears to be gaining momentum and becoming more common at other times of the year as well.

According to some reports, $68 of every $100 spent locally at small businesses, stays in the local economy. This helps money circulate in the local economy, create jobs and strengthen communities.

Nearly 1400 consumers participated in the survey that found consumers feel they get better customer service when shopping at small businesses. Local shops offer convenience and a better shopping experience as shop owners and employees are more familiar with their customers.

The survey also asked consumers what they thought small business owners could do to draw in more customers and asked them what they thought were the best ways to engage customers. The top suggestion to draw in customers was that small business offer more competitive pricing, followed by the suggestion to offer loyalty programs. The top three ways to engage customers were email, in-person events and social marketing. To see the full list of suggestions and findings from the survey check out the full article on NewsOK.com

We at GQ Law are firm believers in the power and potential of local small business. Being a small business ourselves, we are experts at helping get entrepreneurs on their feet. Please contact us today to set up an appointment to meet with Gary and our team to get your small business set up properly.