The U.S. has 99.7 percent of all employers and 64 percent of all new jobs created by small-to-medium-sized enterprises (SME or small business). Without SMEs, there would likely be many more Americans without work. SME owners bring innovation and creativity to the table and help keep the market free and strong. SME owners are more focused on direct-to-consumer contact. They often have a specific product or service needed in their community. SME owners are typically more agile and adaptable to changes in consumer behavior and market trends, and economic climates. It is easier for an SME than its big-box counterparts to pivot and change. There is still strong public support for an SME over bigger, more national competitors, even online merchants.

All communities must be more aware of supporting small-scale businesses in their locality when they make consumer decisions. You are likely to receive direct and indirect benefits by shopping locally. With this in mind, small businesses out of business by COVID-19 saw online giants like Amazon take over the supply of everyday necessities for Americans.

SME Recovery in the Face of COVID-19

As small businesses struggle to recover from the COVID-19 crisis, they face new challenges. Local companies saw the demand for their product and services fall. It was difficult for them to establish sales and operational channels (mostly online and digital) to meet changing customer buying habits. According to Oxford Economics and McKinsey Global, the recovery of small businesses can take many years. Many will never come back. Undoubtedly, recovery will require assistance at the community and government levels.

Paycheck Protection Program (PPP) was one of the most successful assistance programs that resulted from the small business pandemic. The program offered small businesses the financial resources to pay their employees back, cover overhead, and maintain payroll. Millions of dollars were given to people who tried to defraud the government. This took away the support for small businesses that required it. Unfortunately, this was also one of the most misused programs that resulted from the pandemic.

Community involvement is the best way to ensure small business survival. Every effort should be made to support local businesses whenever possible.

There are many reasons to shop locally.

There are many reasons to support local businesses. Local economies are built upon entertainment, art, and recreation. This could include local restaurants, specialty services, and theatres. The surge in local economies can feel like a strong heartbeat, as a domino effect occurs. A local economy that signals survival can return to pre-COVID activities.

SMEs must be able to adapt and invest in technology and talent to survive. Small business owners and operators must make drastic changes to support their economic recovery and growth. Small business owners must, in broad terms, figure out how to safeguard the safety and health of their customers and employees while also testing new business models that can adjust for irregular buying patterns and labor issues.

The Franchise Misconception

It is important to remember that not all small businesses in the area are “mom-and-pop” shops when you interact with them. Local entrepreneurs can become nationally recognized brand owners and operators by franchising. There are many, but the most successful is the commercial cleaning franchise sector. Anago Cleaning Systems is an example of a strong brand among commercial and janitorial cleaning in the U.S. Each is still owned and operated locally by entrepreneurs and small business owners. This industry was at the forefront of COVID-19, which shut down businesses and left people at home. It is important to spotlight it. Many small-business owners helped their communities by cleaning up and disinfecting hospitals, schools, restaurants, shops, and offices. These businesses are local and require community support to survive.

As neighbors and community members, we share a responsibility to look after our small businesses and be socially responsible. It can directly affect economic health and well-being and is an ethical thing to do.