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What would our economy look like without small business

13 November 2017 Help2u 0 Comments

I am not a philosophical person, or am I? I often find myself caught up in my own thoughts, trying to figure out why something happened or what will happen.

The other day I was watching a contractor pave a new path in the area, and I found myself thinking, who is going to walk on this path? We walk a metaphorical path daily, making choices that will affect us either immediately or in the future. This leads me to my most current thoughts on ‘What would our economy look like without small business?’.

The Australian small business and family enterprise ombudsman made mention in their small business financial report 2016, that in 2015, there were 1,980,401 small business in Australia with an active GST role and turnover of less than $2 million a year. This accounted for 93% of all Australian businesses by turnover. When you look at statistics such as these our economy would not function without the likes of small business.

So why am I questioning this? I wanted to bring to the attention of others why there is a need to support and patronize local small businesses. We might not bring your electricity into your home, or make your telephone ring, but when we run our businesses, we are able to fund our sons and daughters extracurricular activities, their education, give them experiences that they will hold with them throughout their lifetime. In doing these things we too are supporting small business and keeping the money in our local community.

American Express in 2008 ran a study outlining exactly how much of our money stays in our local community when we shop and support local small business. It is a stark reality, and yes there is a need for the large chain stores in this day and age, convenience and accessibility do win over the consumer a lot of the time.

Does this change how you view your shopping habits? Would you buy local more often knowing that the money predominantly stays in the local economy? Do we prefer convenience over personal interactions?

So, for now, I will leave you with my quandary, in hopes that I have sparked or provoked a thought in my reader.

Let us work together to leave a better future for those whom will come after us.

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