How to Help Your Local Economy Get Back on Its Feet

COVID-19 has had severe effects on our economy, to say the least. Businesses are struggling to keep their doors open and to pay their employees. But, the beautiful thing about being part of a community is that we all come together when the going gets tough.

Our local businesses need our help to get back on their feet. Here are eight simple and effective ways you can contribute to the rebuilding of your local economy.

1. Spread the Word

Your recommendation can mean a lot to your favorite local shops and restaurants. Do what you can to spread the word about what you love about them and how others can show their support. Here are a few ways to share your positive feedback: leave reviews on Google and Yelp, tell your friends about your favorite dish or products, and share your experience on social media.

2. Buy Gift Cards

Stock up on gift cards for future purchases, gifts, or relief for the essential workers in your life. Gift cards help local businesses generate income while they can’t be at full capacity. When you share gift cards from your favorite local places with people who have never been there before, you could even create repeat customers for that business.

3. Pay Ahead for Services

Though you may not be attending your service-based appointments at the moment, you might consider paying ahead for the future. A few examples of these types of services are haircuts, nail appointments, and fitness classes. These professionals rely on your patronage throughout the year, so right now is when they need you the most.

4. Tip Well

Service industry professionals, such as servers or hairdressers, have had an especially difficult time throughout the pandemic. If you can, consider tipping more than you normally would, knowing that the extra few dollars could go a long way in helping that person pay their bills, buy necessities, or rebuild their savings.

5. Shop Online, Locally

Many of your local favorites have shifted their business to online orders. Before you buy from big retailers like Amazon, search for your local products online—and tell all your friends where you got it!

6. Order Delivery

Local restaurants are relying on delivery and pickup to stay afloat until their normal flow of business returns. This is a great time to have your favorite meals and treats delivered to your doorstep!

7. Donate Items

While you’ve likely been spending more time at home, you might have noticed items in your house that you no longer need. Gather those items in boxes and donate them to your local charity or thrift store.

8. Encourage Local Government Assistance

Call your local legislators to encourage them to consider relief plans for your local community. Though the federal government has passed the CARES Act and associated relief, many small businesses may have not gotten the help they need to keep their doors open and employees paid.

Contact Southwestern Investment Group today to put your personal and business financial goals back on track.

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