Let's Talk Business: Business Supporting Business
The concept of buying local has grown in popularity in recent years.
While buying local is typically talked about from a consumer perspective, it can also be wise for businesses to purchase their goods and services through local vendors as well.
There are many reasons to prioritize buying local and several ways you can do it. Let’s explore a few.
First, prioritize finding complimentary business partnerships. No business can exist without some level of support. For example, a restaurant could find a local farmer to buy from. An office building could reach out to a local pest control company for preventative maintenance.
Often these alliances are natural and easy to come by. However, if you add a sense of purpose behind each cross-business decision you make, it can ensure each interaction is truly targeted toward helping your neighboring businesses.
Next, as the global economy has grown closer together, it’s become easier to outsource various needs to vendors half a world away. While this new way of operating can often be convenient, it can also be hurtful to local businesses.
For example, if your company hosts regular training in the area, avoid making the switch to completely virtual events. When you eliminate travel to the area, the local shops, restaurants, hotels feel the effects.
As your company goes about its daily activities, put each decision through a filter by considering how it’s helping or hurting our local businesses.