Following on from our recent blog post covering the 7 benefits of suppling local Devon businesses, we will show you how buying local can help you save the planet, increase local jobs and improve the local business community.
Buying from local businesses has its benefits when the economy is strong, but it is most important when the economy is in turmoil. Devon is projected in the Team Devon COVID-19 Economy and Business Recovery Prospectus to be the fourth hardest-hit area by the COVID pandemic. As a region relying heavily on the tourism industry, any recovery is built on fragile foundations as the path out of lockdown creeps closer but with some uncertainty. Buying from local businesses has long-reaching benefits and can alleviate some of the reliance on the tourism industry in the area.
Sustainable economies are built on buying local, but it is something that needs to be widely adopted. Local companies are owned by local people, they recruit local people, who in turn, spend most of their hard-earned cash (your cash) locally. Whether the cash is spent in bars (when they re-open), shops, gyms, restaurants, or any other locally owned business, the money they spend will go towards the upkeep of that business, its premises and pay the wages of staff, creating a continuous cycle. It is easy to see how quickly this can escalate with the money getting continually recycled in the local economy, Ben Lobel backs up this theory in his blog Fifteen reasons why you should shop at a local company mentioning that “£10 spent with a local independent shop means up to an additional £50 goes back into the local economy”.
Successful businesses retain more staff and employ more people, buying from local business enables job security and can increase job opportunities locally Areas such as North Devon have real issues with retaining young, local talent in the area due to the limited opportunities available. Trade between local business will increase the opportunities and creates more entrepreneurship from the retained talent, developing more opportunities for the next generation and putting back into that spending cycle.
There is a good chance you are going to get a better price from a local business, especially if doing things local is their thing and they source the raw materials from other businesses in your region. Local companies are willing to help other local companies because of all the benefits mentioned previously in this post. Because you are buying local, there is also the possibility transportation time is minimised through the supply chain, meaning the price you pay will be more competitive than those you might purchase from further afield as well as reducing carbon emissions at the same time.
Race to the top
Whilst we are on the subject of cost - ever wondered how big-name brand always appear at the top of your search results? They pay to be there and the cost to do so for sectors such as car hire or accounts can be eyewatering. If you don’t think this impacts you, think again. The fee you pay for any product or service will absorb any marketing cost. Finding a local company that is not fighting for your eyeballs at the top of the search results may offer an equally good product but without additional costs going to Google.
Buying locally also presents a unique networking opportunity among businesses. Choosing to buy from other businesses within your community can lead to new connections, special discounts, and the chance to collaborate and support each other’s brands.
Sarah Long writes in her blog Buying Local: Understand the Pros and Cons of Striving to Purchase your Goods Locally “Buying local is touted as the best way to be environmentally friendly while supporting local communities at the same time” and we couldn’t agree more. The idea of SupplyDevon was developed on this premise. Buying from local companies can mean less transportation time and therefore fever emissions being released, this can increase fourfold for heavy goods, goods shipped internationally, or those that require additional care during transport such as temperature control. You will also be less susceptible to supply chain disruption by unforeseen circumstances such as those we covered in a recent blog when the Ever Given cargo ship blocked the Suez Canal.
Look no further, SupplyDevon offers unique functionality, powered by Artificial Intelligence, to gather multiple quotes for any product and service you buy for your business. The platform enables buyers to consider suppliers based on localism, quality, and price. By using SupplyDevon you gather multiple responses, whilst only having to raise your enquiry once, saving you time but allowing you to still support those businesses that are within your community.
To learn more about SupplyDevon visit supplydevon.org, or email us info@supplydevon.org.