PHONE: 215-934-3500 or 800-832-PFCU

ABA Routing # 236084298

5 Reasons to Support Small Businesses This Saturday

Nov 23, 2020

Support Small BusinessesThe recent pandemic has put a major strain on businesses of all sizes, but small businesses in particular have felt the pinch and struggled to keep their storefronts open and their staff employed. This Small Business Saturday, consider turning to your local small businesses to do your holiday shopping for the following five reasons:  

When you shop small, you can save big.

Bigger stores do not control the pricing of their products, they sell products at a suggested rate based on MSRP. To avoid spending more than necessary, consider doing the majority of your shopping at locally owned businesses, since they can be more flexible when it comes to pricing their products.

Shopping small boosts the local economy.

Every dollar spent at an independent business contributes three times more money into the local economy compared to money spent at a chain. Even more, since these small businesses’ goods are unique, they can attract tourists to the community, further boosting the local economy.

You’re supporting your community.

Not only are you supporting the economy, but you’re also supporting your neighbor(s) who may be directly or indirectly employed by local small businesses. Locally-owned businesses help to create more jobs in the community since they often use other local business such as printers, accountants, and lawyers, among others.

A healthy presence of small businesses in the community also helps people learn on-the-job business skills in a one-on-one setting that they may not get elsewhere, further empowering the next generation of entrepreneurs. With the support of the community, small shops can expand, grow, and open up other franchise locations, helping improve neighboring communities as well.

It’s good for the environment.

Many small-batch business brands manufacture and offer locally sourced products, thus increasing transparency and reducing the carbon footprint for packaging and transportation. Additionally, smaller brands typically produce a lower quantity of products than larger companies, meaning they utilize a smaller volume of the community’s natural resources. And since small business owners typically live in the town where they operate, they’re also very quick to give back to their area and preserve the surrounding environment.

It’s a win-win!

When you shop small, you support the economy, your neighbors, and the environment, as well as the business owner and their dream. But, you’re also receiving top-of-the-line customer service, transparency in how your goods are prepared and sourced, and a unique product or service.

Not only do you know where your products come from, but you also know where your dollar is going, and that’s right back into the community where you work and live!

It’s important to show love to the local businesses in your community, but it’s especially important this holiday season, as virtually every business has been impacted in some way due to the coronavirus. Lean into the holiday spirit and try turning to the small businesses in your town before you turn to a chain. Who knows? You might just find the perfect gifts for your loved ones at the mom and pop shop down the street!


Erin Ellis
Accredited Financial Counselor
Philadelphia Federal Credit Union

National Association of Federal Credit Unions 
PFCU is a proud member of the National Association of Federal Credit Unions
National Credit Union Administration 
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.
Excess Share Insurance Corporation 
Additional insurance of up to $250,000 on your savings accounts is provided by Excess Share Insurance Corporation, a licensed insurance company.
Equal Housing Lender 
We do Business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.

We provide links to external websites for your convenience. Philadelphia Federal Credit Union does not endorse and is not responsible for their content, links, privacy or securities policies.

Please note that the amount of money contained in your investment accounts are considered non-deposit products and therefore, are not NCUA insured, not credit union guaranteed, may lose value, are not guaranteed by any government agency. Since they are not a deposit of the Philadelphia Federal Credit Union, investment accounts do not qualify for Excess Share Insurance (ESI). Securities, Financial Planning and Insurance products are offered through LPL Financial, and its affiliates, Member FINRA, SIPC. LPL Financial and Philadelphia Federal Credit Union are independent entities.