The company that my husband works for just participated in the Greater Kansas City Chamber of Commerce small business of the year competition. 1600 nominations were whittled down to 110 applicants who took part in a showcase at Union Station two weeks ago. From here, the top 10 businesses were announced, with the overall winner being named at a celebratory luncheon in Mid-May and then taking home the Mr. K. award.
This whole process has been a wonderful experience for everyone involved with Royal Services who are now hungry to go one step further next year. Next year marks Royal’s 25th anniversary as well; what an achievement it would be to be recognized as one of this incredible city’s most respected small businesses in their anniversary year! The preparation has already begun, and I will provide updates on Royal’s progress over the next 12 months.
This celebration of small businesses throughout the Kansas City metro area really opened my eyes to the incredible individuals out there who have the entrepreneurial spirit, determination, and drive to overcome all obstacles in their way. Royal also started in humble surroundings. Back in 1993 Tom and Charlene Shyver founded Royal Services and ran the business out of their basement, moving on to share an office with a veterinarian, before relocating to their current location 13 years ago. This family-owned and operated business is one of only a handful of national facility maintenance and project management companies that remain privately held.
This week, I want to look at the many benefits of working with a small business. The following list was taken from The Institute for Local Self-Reliance, who did a great job of explaining the benefits involved with shopping local!
1. Local Character and Prosperity
In an increasingly homogenized world, communities that preserve their one-of-a-kind businesses and distinctive character have an economic advantage.
2. Community Well-Being
Locally owned businesses build strong communities by sustaining vibrant town centers, linking neighbors in a web of economic and social relationships, and contributing to local causes.
3. Local Decision-Making
Local ownership ensures that important decisions are made locally by people who live in the community and who will feel the impacts of those decisions.
4. Keeping Dollars in the Local Economy
Compared to chain stores, locally owned businesses recycle a much larger share of their revenue back into the local economy, enriching the whole community.
5. Job and Wages
Locally owned businesses create more jobs locally and, in some sectors, provide better wages and benefits than chains do.
Entrepreneurship fuels America’s economic innovation and prosperity, and serves as a key means for families to move out of low-wage jobs and into the middle class.
7. Public Benefits and Costs
Local stores in town centers require comparatively little infrastructure and make more efficient use of public services relative to big box stores and strip shopping malls.
8. Environmental Sustainability
Local stores help to sustain vibrant, compact, walkable town centers-which in turn are essential to reducing sprawl, automobile use, habitat loss, and air and water pollution.
A marketplace of tens of thousands of small businesses is the best way to ensure innovation and low prices over the long-term.
10. Product Diversity
A multitude of small businesses, each selecting products based, not on a national sales plan, but on their own interests and the needs of their local customers, guarantees a much broader range of product choices.
So there you have it, 10 great reasons for why you should support small businesses. If you need further convincing please check out this article from Forbes which goes into even more detail.
Please take a moment to fill out the comment form below so that we can hear more about your business and what makes it special!