Take a moment to realize that as a globe, we are all living through history. This devastating pandemic will be outlined in textbooks, perhaps as a chapter of the early twenty-first century. It may be insane to think about, but there is a collective learning opportunity. As a society we know that this pandemic has dismantled many small businesses, and can now understand that these businesses are a necessary part of every town. Consequently, it is important to be educated about the effects of the pandemic on overall wealth.
The rising wealth gap is a threat to the common professional and businessperson, which includes many entrepreneurs. Minimum wage to high education employees have been let go by billion dollar companies during the pandemic, or have been unable to find work at all. This historical, economical crash has also devastated small business owners, as Americans simply have less petty money to spend on personal products. Of course this information settles uncomfortably with most, however there is a way to progress the economy in the right direction. As a business community, we must shift our focus to our small time business owners that work tirelessly to support themselves and their workers. Not only is it a moral responsibility of the informed, but it can also benefit you and your career.
First, why make the conscious change of supporting more small businesses? When putting something into the shopping cart of a large corporation, we are certainly not thinking about how we are supporting an already flourishing business. Humans see something they want, and buy it. So, let's halt our thinking process and try to take a moment to decide whether or not this product is sold by a small business. Sadly, large corporations tend to rip off the designs and ideas from smaller businesses. They use cheaper materials and slightly decrease the price, advertising as a “convenient and affordable” company. If possible, ask yourself if that applies to the product you are purchasing.
Secondly, how does this support eventually help other small businesses? If people are assisting others in their wealth gain, then the overall wealth of the country grows. When people think about their purchases, the wealth gap can potentially decrease and more small business owners can lead a comfortable life. Furthermore, these decisions are reciprocated throughout communities. For instance, consider purchasing a sweatshirt from the local Walmart or a small designer in your town. Both similar designs, but perhaps the small designer charges more as they have created this product with little help. Who would realistically support your small business in return? The answer is obvious, and of course this is a hypothetical situation that may seem insignificant. However, we need to think about this concept on a much larger scale. The increased support of the poor and middle class, specifically entrepreneurs, will eventually create a healthier economy that does not only benefit the top 1%. The pandemic is a devastating time in history, but it also allows us an opportunity to remember the businesses along the main street in our town. Whenever possible, support small businesses and make conscious decisions about your purchases. There are endless benefits in supporting the small.
Hannah Smolicz is currently an undergrad student and was previously a “client” of ours. She reached out to us four years ago for assistance with developing an e-Commerce presentation for her DECA competition. Now, as she continues her educational journey, Hannah is back as a guest content writer, with a goal of developing her portfolio and providing relevant content and interesting perspectives to our clients.
Learn More About Hannah’s Story Here: https://www.danieljamesconsulting.com/post/daniel-james-llc-assists-ct-high-school-student-hannah-smolicz-in-securing-deca-officer-position
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Daniel James Consulting is a Full-Service Business Consulting Firm based in New York that designs solutions tailored specifically to the needs of your business in order to ensure you achieve continued success by designing, developing and implementing plans, metrics and platforms, be it a one-man operation, non-profit, startup or large organization. Our packaged solutions or a la carte selections include Website Design, Marketing & Advertising, Search Engine Positioning, and Graphic Design. Business Management Solutions are also available for companies of all sizes.
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