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Entrepreneurs Source Local And Buy From Other Small Businesses

[ 0 ] May. 1, 2013 | SBO Editor

Small Business Owners Balancing Short-Term Realism with Long-Term Optimism
When it comes to supporting their local communities, small business owners practice what they preach. According to the American Express OPEN® Small Business Monitor, 70 percent of entrepreneurs say they purchase and source goods and services from other small businesses.

“You are Only as Good as Your People”

Additionally, almost all (96%) small businesses are committed to supporting their local communities through a variety of activities. Some of these activities include donating to local causes (70%) and participating in community projects (49%). Additionally, 83 percent “shop small” (shop at independently-owned businesses in their neighborhoods) for non-business related purchases.

“We should all draw inspiration from small businesses that remain steadfast optimists and loyal contributors to local communities and causes despite an economic environment that remains uncertain,” said Susan Sobbott president, American Express OPEN. “Adversity is nothing new to the vast majority of entrepreneurs, and our research shows that while they have concerns about the near future, they have learned a great deal from recent trials and are better positioned to grow in the long term.”

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Category: Features