5 meaningful ways to support independent businesses

Creating jobs, nurturing talent and generating profit at a regional level – independent businesses are at the heart of their local communities. The current economic landscape is tough for small businesses. But as we know, small businesses are resilient and will always rise to the challenge. With that in mind here are some ideas on how small businesses can pull together and support one another.  

Showing up for small businesses doesn’t need to break the bank. There are plenty of simple ways you can support independent businesses that won’t make a dent in your cash flow. In fact, these tips could even boost your own revenue by attracting more customers.

It all starts with community…

Find your tribe

Running a small business can be lonely. You have to wear all the hats and make all the decisions. But you’re not alone. 

Every small business owner across the country is in the same position – so reach out and offer a friendly hand.

Build your own community of like-minded businesses. Whether it’s local businesses in close proximity, complementary businesses, those in the same industry or those that share the same values.   

Once you’ve found your tribe, here are some effective ways to maximise your support for each other without putting a dent in your cash flow:

1. Be a cheerleader

Leaving a nice comment on a social media post costs nothing. Neither does liking and sharing someone’s posts, making a recommendation to friends and family, or leaving a review. 

Engaging with social media posts gets that content seen by more people. So, next time you’re scrolling, ask a question or leave a comment that opens up a conversation. 

2. Share advice and knowledge

However well intentioned, people without experience running a small business just don’t understand the all-encompassing reality. That’s why an understanding support network is invaluable – to share experience and advice, or just a cup of tea and a friendly ear.

Regular meet-ups – whether online or offline – can offer that support, as well as opportunities to pool resources or share costs, such as accounting, HR or marketing advice.

3. Outsource to one another 

Not an expert in something? You can bet there’s a small business owner out there who is. Whether it’s something you need for your own business, or a customer is asking for an additional product or service, seek out a fellow small business and pass sales their way.

4. Collaborate 

The beauty of having a trusted network is that it widens your reach and access to potential new customers. Working with complementary businesses could create new revenue streams.

Ideas include:

• Create a bundle of complementary products that solve a customer need 
• Sell-in each other’s products to your own customers
• Share a retail space, workshop or studio
• Offer exclusive discounts for each other’s customers 
• Team up for a giveaway – this works well to reach new audiences on social media

5. Buy small wherever possible

Show your commitment to small businesses by buying from them yourselves. If you rate a product, use it in your own business. Whether you’re purchasing office supplies, rewarding your team or hosting an event, look to support a fellow small business where you can.

If the budget won’t stretch to purchasing, how about a reciprocal product exchange to get your products in front of each other’s customers?

If you’re considering finance to help your independent business grow, check if you’re eligible in 30 seconds and apply online in 10 minutes. 

01/07/25: While we want to help as much as we can, the information found here is provided solely for informational purposes and should not be considered financial or legal advice. To the extent permitted by law, Funding Circle does not accept any liability for any loss or damage which may arise directly or indirectly from the use of, or reliance on, the information contained here. If you have any questions, please speak to your professional adviser or seek independent legal advice. 

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