Candace Yaeger, co-founder Positivity and Truth
In 2019, the average American budgeted about $952 to spend on gifts during the holiday season – adding up to over $1 trillion. 2020 brought a pandemic, job loss, business closures, and economic uncertainty – making it hard to estimate what will be spent. However, if it is even a fraction of what was spent last year, our dollars have the ability to make a serious impact on our economy and communities. What matters most to you? Here are 3 ways you can use your dollars to support your values.
When you shop at local small businesses, more of your hard earned money stays in the community where you live. On average, for every $100 spent at a local small business, $68 remains in that city versus only $43 when spent at a non-local larger corporation. That money adds up for our local businesses that have been hit hard by the pandemic. According to 62% of small business owners, in order to remain in business, they must see customer spending return to pre-COVID levels by the end of the year. That means that, for many of our neighbors, this holiday season is the last chance they have to prevent closing their doors forever.
Tip : Many local shops often online shopping with free pickup.
Millions of people lost their jobs due to the pandemic. If you are like most of us, that number includes our friends and family members. The key to new job creation is small businesses. Small businesses make up an astounding 99.7% of all US employer firms. Since the end of the recession, small businesses have been directly responsible for 60% of new jobs. When our dollars go to small businesses – we are creating jobs for our neighbors, family, and friends.
Tip : Shopping your news feed is a great way to support your entrepreneurial neighbors who are currently unemployed or underemployed. Sister have a killer new Etsy account? Share and shop away!
2020 has caused many of us to reflect on what matters most to us. One positive we’ve seen come out of 2020 is a surge to support women-owned and minority-owned businesses. New York Magazine has developed an interactive map of black-owned businesses. Now, it is easier than ever to learn more about the values behind a business by digging into their social media accounts or reading about the business owners in their About Us section of their website. You are in control of who your money is going to.
Tip: Shop those hashtags. You can find businesses whose values are in alignment with yours by using certain hashtags. (#WomenOwned #SmallBusiness #BlackBusiness )