Shop locally to grow your community’s economy

The Ekurhuleni Aerotropolis Chamber of Commerce and Industry (EACCI) encourages residents to shop locally because by supporting neighbourhood businesses, you are supporting your local economy.

“In lean times, consumers pinch pennies and do away with many luxuries, injecting a degree of caution into their financial habits. In the current environment, smaller, local businesses count on local residents’ patronage in order to stay afloat, and every transaction is valuable to them,” said Vincent Marino, the CEO of EACCI.

According to Marino, locally owned businesses create jobs and, in some sectors, provide better wages and benefits than chains do.
He pointed out it isn’t always the easiest or most convenient option to visit a local independent business, but showing your local entrepreneurs support, especially during these difficult times, is important for boosting the local economy, as more money stays within the community.

“The knock-on effects can be seen. Some community economies have lost significant support which can be seen by the degradation and depreciation of their central business hubs,” he said.
Marino stated in addition to helping build the local economy, there are also notable intangible benefits that come from supporting businesses in your local community.
“Local businesses are owned and operated by friends, family and neighbours. They are committed in investing in the well-being of the community, and are doing so because they believe in its future.
“Local businesses are more accountable to their local communities and generally donate money to non-profits within the community. By supporting the community economy, business owners recycle a large share of their revenue back into local economy, thereby enriching the community at large,” explained Marino.

The EACCI added a large number of small businesses, each selecting their products based not on a national sales plan, but to satisfy their own interests and needs of their local customers, while also ensuring a much broader range of product choices for the locals.
“Local business owners also often have wonderful incentive to support other businesses within their own community, doing so for both business and personal purchases.
“Creating a tight sense of fellowship within your business community further drives local shopping, with local residents taking notice and following suit.”

What is the function of the EACCI and who do you service?
The chamber functions at various levels. Firstly, we help start-ups by providing credibility. It brings a level of legitimacy to their business.
When joining, potential members need to provide EACCI with a bit of information, including business name, company registration number, physical address and other relevant details. These help other businesses that want to use their services. It increases their visibility through our various online platforms and creates networking opportunities.
Local chamber tackles difficult issues and oppose regulations that hamper entrepreneurship, stifle innovation and creativity through national organisations such as SACCI, while acting as gatekeepers of the free enterprise model.
What are the benefits of belonging to the EACCI?
“I like to give the analogy of joining a gym. One pays a membership fee and has access to the gym’s services for a period, normally one year. In that time, you use the facilities of the gym to help yourself and maybe help someone else out. The same applies to chambers.
“You join and it’s up to the business to utilise the chamber’s services. We can help and guide, but ultimately can’t run your business. The same principles apply to the gym. The instructors will help and show you how to do the exercises, but can’t do it for you.
“By being an active chamber member and not a sideline spectator, a business will have access to networking opportunities, make business contacts, increase brand visibility and membership can bring credibility to one’s business.
“Studies have shown when consumers know that business is a member of their local chamber, there is 44 per cent likelihood to think favourably of the business and a 63 per cent chance that goods or services will be purchased from the company in the future.
“As businesses become more digital, owners have access to a great deal of information; the concept of knowledge sharing becomes critical. Not only for the internal communication between owners and employees but to ensure we move forward together, helping each other to be equipped with the right tools.
“A diverse range of opinions allows for objective decisions to be taken quickly.
“A chamber is also a platform where members willingly share their knowledge, skills and expertise to improve, impact and change someone’s situation. “A platform for knowledge or information sharing, I believe, will result in more business and trade.
“When we talk of knowledge sharing, we mean sharing out of publicly available data, not that which constitutes a valuable intangible asset of the business, which is used to create and sustain a competitive advantages over ones competitors.”

Where can businesses get hold of you and find more information?
Contact Vincent Marino on 082 257 3213 or 010 285 0313 or at vincent@eacci.org.za

Also Read: Longest-standing EACCI member commemorated