Five ways to help your local economy, and why it’s important

So, what’s the deal with the “support small business” trend? Aren’t businesses getting support from all those loans and grants that the government is offering? After all, everyone is struggling right now, why would businesses need more support than anyone else?

Because. Most small business owners couldn’t collect unemployment, while their employees could. But worker’s comp and payroll taxes still have to be paid. Many Bonners Ferry businesses support two or even three generations of families, and pay multiple mortgages, utilities, insurances, grocery budgets, dance lessons, birthday presents, etc. etc. etc. … Most small businesses locally had very little working capital after slow winter months, and were not prepared for two months of closure, or a closed Canadian border, which dramatically affects tourism.

Many businesses have lost employees over the closure. Others are struggling with the dichotomy of hiring employees back who are now receiving extra unemployment, which could be negated by the business’ PPP or EIDL loan, making employees upset and putting the owners in a very tough spot. There are many stipulations of how the money from the government disaster loans can be used by the business owner, often in unrealistic and unhelpful ways.

Once reopened, businesses struggle with innumerable challenges, from supply issues, to managing cost of goods sold with little to no working capital left, not to mention miffed customers who don’t understand why the store is out of something, or why a discount can’t be given, or why a restaurant is out of a normal menu item. The trickle-down effect of the supply chain affects everybody at some point. Unfortunately, the shop and restaurant owners are often the ones who get blamed for the tardy product.

The list of challenges for business owners is unending. But, take heart! In a way, business owners are used to that. An individual doesn’t start their own business so they can easily collect a paycheck, or have financial security in the first five years, or work a 40-hour work week. People start businesses because they have a dream and want to see it come to fruition. Businesses begin when someone sees a need in their community and makes a decision that they are going to fill it. Businesses begin when someone decides to take a risk, sacrifice, and be willing to never let their workday end. Business owners understand struggle. They are resilient, strong, and stubborn.

So, how can you support these dream-chasers?

1. Be patient! Please understand that the business owners have been kicked while they are down for more than eight weeks, in some cases. It’s a lot to recover from, especially at the time of year that they are normally starting to pick up from the winter months.

2. Get creative with spending money. Get take-out and have a tail-gate picnic. Go spend a date night away at a local hotel or B&B, which rely very heavily on tourist and Canadian traffic, which is halted right now. Buy gift cards from those who aren’t open yet. Be willing to wait for your manicurist or hair stylist. They feed their family with their services to you!

3. Don’t haggle! While some businesses will be running sales right after opening, realize that most stores are having inventory issues, so they may not have any overstock to run a sale on right now. They also have had no incoming money for two months—while the bills continued to pile up — so it’s a bit defeating to be asked to sell their remaining inventory at-cost (on sale) when they’re just praying to catch up on insurance and utilities.

4. Help their SEO! Social media and Google searches are a huge way businesses gain traffic these days. Write a good review, tag them on Facebook when you’re there, or simply follow their Facebook or Instagram page. Each bit helps their exposure!

5. Ask for their sponsorships, but be kind! This is the time of year that businesses normally begin shelling out large amounts of money for summer sponsorship events: Community organizations, sports teams, scholarship programs, and local tourist events like the Fourth of July Celebration and Kootenai River Days. It’s OK—ask for their sponsorship! Businesses love to sponsor these local needs, and also get great exposure from them, so it’s a big part of many businesses’ advertising budgets. But … Be understanding if they have to say no, or if their philanthropy is less than normal. They need customers before they can give more.

As a whole, we believe our Bonners Ferry businesses are going to make it, with support from their amazing community! With the indeterminate nature of the upcoming tourist season, let’s give the business owners some local love, and keep our economy going!

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Nancy Croll is a representative of the Bonners Ferry Chamber of Commerce and co-owner of Boundary Consignments.