Small Businesses Deserve Our Support EVERY DAY
This past Saturday November 25th was Small Business Saturday when holiday shoppers are encouraged to shop at small independent retailers. I would argue that this holiday season we should all try to do as much we can to support the small businesses in our neighborhoods. They need our support now more than ever.
Small businesses are facing a myriad of challenges right now. They are an essential part of our lives in Chicago and they deserve more support from the city, from the state, and from consumers. As inflation continues to rise in the US, so do the costs of doing business for small businesses. Businesses have to buy goods too and it’s more difficult for small retailers to pass along price increases to customers. Larger retailers are able to use their scale to better negotiate with wholesalers, it's easier for them to pass along cost increases to their wider consumer base, and they can better absorb higher labor costs. Small business are also getting their rents raised by commercial property owners and getting pushed out of many of the prime spaces that they have occupied for years
I think we also need to acknowledge the lasting damage that was done to small businesses from the Covid-19 pandemic. These stores, restaurants, and bars that add to the fabric of our communities are suffering from their own kind of “Long Covid”. Consumer habits simply have not returned to a pre-pandemic “normal”. There was a surge immediately after lockdown measures were lifted but most bars, restaurants, and live entertainment venues are still struggling now three years later. The problem is that our habits have changed. We stopped going out as much as we once did and created new entertainment habits at home.
We also began shopping more and more online. Online shopping had been growing in popularity before the pandemic and then exploded in the Spring of 2020. Over 20% of all US retail purchases now occur online and while small retailers have learned how to compete for online sales the market is dominated by large technology companies like Amazon. Amazon revenues have doubled since the beginning of the pandemic, from 280 billion at the end of 2019 to a projected 560 billion at the end of 2023. Today, Monday November 27th is “Cyber Monday” when Amazon and other online retailers offer deep discounts to consumers but I am asking you today to think about how shopping online affects local small businesses and your community.
“I feel very lucky to have worked at the Chicago Reader for years, helping small businesses, and getting to know so many incredible small business owners across the city. These are some of the people that make Chicago so special and they need our support.”
The question we have to ask ourselves is “are these small businesses important to us?”. Is it important for us to have that small shop, neighborhood bar, or restaurant in our community? I believe that these places are incredibly important in creating the rich and diverse lives we enjoy in Chicago. The coffee shop in Avondale. The small panaderia in Belmont Cragin. The independent toy store in Logan Square. The neighborhood tavern in Bucktown. All of these places add to the rich tapestry of this city. I feel very lucky to have worked at the Chicago Reader for years, helping small businesses, and getting to know so many incredible small business owners across the city. These are some of the people that make Chicago so special and they need our support.
When you spend your money at a small business in your community, you are keeping that money in your community. When you spend your money with an online retailer you are moving that money out of your neighborhood and into the hands of a shareholder of a big tech company. Small business owners are also more diverse when compared to Wall Street investors or the leaders of big tech companies. Over 21% of all small businesses are owned by women, nearly 1 in 5 small businesses (19.9%) are owned by people of color, and 21.7% are owned by recent immigrants.
So today November 26th I am asking to say “no” to Cyber Monday and to instead go check out some of the incredible small businesses in Albany Park, Avondale, Logan Square, Belmont/Cragin, and Bucktown. You’ll be making a difference in your community and getting your loved one a more thoughtful and purposeful gift for the holidays.
G.