In Australia, over 97%1 of businesses are small, serving as a critical part of the economy.
However, some local businesses have struggled to stay open over the past few years. Without them, their economic contribution and the sense of community they create are at risk.
Read on to understand why supporting local businesses is important and ways to help them.
There are many reasons to support local businesses. Some examples include:
There are many ways to support independent businesses, such as:
Finding local places to shop is fun and it's helpful if you can pay in an easy and safe way. A simple way to shop online is with PayPal, as you don't need to remember your payment details. All you need is your email address and password or mobile number and PIN to buy from thousands of local stores.
Some small businesses may also let you spread the cost of your purchase with payments over time, using a buy now, pay later option. PayPal Pay in 4* lets eligible PayPal customers spread the cost of purchases into four interest-free instalments with no late fees.
Indigenous businesses in Australia experience challenges that other small businesses may not. Social and economic factors mean many indigenous Australians have limited access to educational resources and financial services due to their remote locations.2
There are specific requirements for how to register as an Indigenous business through the Office of the Registrar of Indigenous Corporations.3 If you want to support indigenous businesses, you could:
Of Australia's 2.3 million small businesses, 31% are located in regional areas.4 Regional businesses often find it challenging to grow due to limited foot traffic or their remote location.
Many rural and regional businesses are part of Buy From the Bush, which supports small businesses by connecting them with international customers. Founded in October 2019 as an Instagram account, the platform has since grown to become a shoppable website offering a wide range of products.
You can shop for sustainable and ethical products at local small businesses. Here are some examples:
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