During the pandemic and just after that, all businesses had to make significant adjustments to the new normal. Companies that previously relied on sourcing internationally are now looking for more local alternatives to save costs and more efficiency.
Professionals in procurement prefer to work with local services as they have many benefits.
8 Benefits of Using Local Service Providers
Here are the following benefits of working with local service providers:
1. Greater Control
The further away you are from your service provider, the lesser control you have over supply chain companies. Local service providers located close to you will keep you on top of their minds if you drop in and pay them frequent visits to keep your work on top priority.
2. Reduced Supply Chain Costs
Using global suppliers in your industry can add to your costs significantly. By sourcing through local suppliers, you can reduce a chunk of your capital spent on shipping costs and help save a lot of money. Localizing your supply chain is a fantastic cost-effective solution, and more people are shifting towards sourcing locally.
3. More Revenue
Local chains help save money and help attract more customers and generate more revenue.
4. Personalized Attention
Local service providers are people who live in the same community as you. They may even know who you are or can relate to you and your needs. Since they depend on their community for growth
5. Better for the Environment
Local chains use less power and reduce emissions. They are also closely located, so they donâ€™t require the use of automobiles as much for transport, so congestion is prevented, and emissions are reduced. Most local chains are a walking distance or a bike ride away.
6. Lower Taxes
Local businesses put less demand on roads and sewage systems and safety measures due to more efficient use of land and more central locations. They also generate more tax revenue per sales dollar.
7. More Flexibility
Local suppliers are located within your communities and neighborhoods and can relate with their clients, who are people they usually know directly or know of. They know their clientâ€™s needs and the nature of their work. Local suppliers are more responsive than those located further away and can provide quicker and more efficient deliveries, making them more reliable and flexible.
8. Jobs and Wages
Locally owned chains provide more job opportunities for people within their community and offer better wages than other chains do. Being located nearby also helps save on transport costs.
With the ever-changing economy, businesses need to keep coming up with efficient ways to stay afloat. Making a shift towards buying from local service providers can significantly positively impact your business and help cut costs.
If you are looking to shift towards sourcing from local chains and are unsure which ones are located close to your home, contact Local Services Network to find out the best places near you.