Released On 23rd Jun 2023

Strengthening Somerset: The Power of Supporting Local Businesses

Introduction:

In today's globalised world, where e-commerce and multinational corporations dominate the marketplace, it's easy to overlook the incredible value that local businesses bring to our communities. Somerset is a shining example of the positive impact that supporting local businesses can have on the local economy. We have long been supporters of local businesses and the unique and wonderful skills and insights that Somerset (and Southwest) business owners have. Both through our own endeavors, and those of Yeovil Chamber, which we are proud to be members of, with Jo our MD being the current President too, we know that local businesses thrive when they work together and this creates opportunities for everyone in the region.  

In this blog, we will explore the remarkable benefits of collaboration and mutual support among local businesses in Somerset, highlighting how they contribute to the region's economic growth, job creation, and overall prosperity, highlighting just a few that we believe make us really special.

Keeping Wealth within the Community:

When you support local businesses, you are essentially reinvesting in your community. Unlike large corporations that funnel profits elsewhere, local businesses circulate a significant portion of their earnings back into the local economy. This cycle of spending creates a multiplier effect, as local business owners and employees, in turn, spend their money locally. This circulation of wealth helps to create a robust and self-sustaining economic ecosystem in Somerset, benefiting everyone in the community.  This is not limited to SMEs as our larger businesses have a responsibility to do the same and have a greater opportunity to support and underpin the efforts of smaller businesses in the ecosystem by using local suppliers wherever possible.

Job Creation and Economic Growth:

Local businesses are the lifeblood of the Somerset job market. They provide employment opportunities for residents, ensuring that people can find work within their own community and reduce commute times. By supporting local businesses, we can foster job creation, which leads to reduced unemployment rates and increased economic stability. Additionally, the growth of local businesses generates tax revenue for local authorities, allowing for investment in public services, infrastructure, and community development. This is something that needs to be addressed with a large percentage of our young workforce heading to larger towns and cities for greater opportunity and a more vibrant lifestyle.  At Justelle we employ students and graduates to help in our own small way address this skills migration.

Unique and Authentic Experiences:

One of the remarkable aspects of local businesses is their ability to offer unique and authentic experiences. Somerset's local businesses, whether they are artisanal shops, family-owned restaurants, or boutique accommodations, infuse the region with its distinctive character and charm. These establishments often showcase the area's culture, heritage, and craftsmanship, making Somerset an attractive destination for both locals and tourists. By supporting local businesses, we contribute to the preservation of Somerset's rich traditions and create an unforgettable experience for visitors.  But aside from tourism, this is also true in our traditional sectors too.  HR and recruitment agencies understand the local pressures of the job market, accountants are aware of local grants and initiatives, marketers and website developers are aware of local trends and the needs of your local customers.  All this makes local businesses the perfect experts to help your business grow.

Environmental Sustainability:

Local businesses tend to have a smaller carbon footprint compared to large corporations. They often source their products locally, reducing transportation-related emissions and supporting nearby producers. By choosing local businesses, we promote sustainability and help protect Somerset's beautiful natural environment. Furthermore, local businesses are more likely to embrace eco-friendly practices, such as reducing waste, conserving energy, and supporting sustainable farming methods. By supporting them, we contribute to a greener and more sustainable future for Somerset.

Collaboration and Mutual Support:

One of the most remarkable aspects of local businesses in Somerset is their spirit of collaboration and mutual support. They understand that by working together, they can achieve more significant success and strengthen the local economy as a whole. Local businesses often collaborate on joint marketing efforts, community events, and initiatives to attract visitors to Somerset. This unity fosters a sense of community and encourages residents and tourists alike to explore and discover the diverse offerings of the region.  Obviously, we can't talk about collaboration and support without mentioning the amazing work of Yeovil Chamber, but there are businesses doing this at every turn and, speaking from our own experience, working together makes such a positive difference and makes navigating global events (Covid, Brexit, COL, etc.) easier when others understand the pressures and share their advice and insights.

Conclusion:

Supporting local businesses in Somerset is a powerful way to bolster the local economy, foster job creation, preserve the region's unique character, and contribute to a sustainable future. By choosing to shop, dine, and stay local, we invest in our community, keeping wealth within Somerset and empowering our fellow residents. The collaboration and mutual support among local businesses further enhance the county's vibrancy, making it a place we can all be proud to call home. Let us continue to celebrate and support the local businesses that make Somerset a remarkable and thriving destination.