Supporting Local Business from the Field of Master Mind Business (MMBU)
Shared from the desk of: Joseph Mercado
Article Author: Angelica Stabile
To: Entrepreneur
Blog Post #929
Re: Supporting Local Business
Date and Time: Friday, March 20, 2020 at 7:32 p.m.
Dear Entrepreneur,
Purchasing gift cards from local businesses can help stimulate the economy now for a return later
With more than 1,600 cases of the coronavirus nationwide, people have been urged to socially distance themselves from others and stay inside – and small businesses are taking a big hit.
In order to give back to the community and keep local business alive, Americans are purchasing gift cards and certificates, online and in-store, to their favorite local shops and restaurants to continue the flow of income.
The benefit of purchasing gift cards is not only the act of giving back to the community now but the ability to redeem them for products or services later on.
Out of the 300 million small and local businesses in the U.S., most survive on consistent sales being that profit margins are usually very small, and an economic selloff such as current could tank a company, according to Life Hacker.
Since social distancing may keep shoppers out of the store, most small and local businesses offer online gift certificate options. According to Visual Trends, one-third of all American small businesses plan to or have invested in e-commerce this year.
Content Source: FoxBusiness.com
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