With COVID-19 and government regulations wreaking havoc on the small business community across the country, it’s incredibly important for small businesses to stick together. Everywhere I turn, I hear business owners talking about the importance of shopping locally. Why buy from Amazon when you can support a local business, right? Well, why use Square for your payment processing when you can support a local merchant services provider? We’re all in this together, and we’ll make it if we support each other.
Ladies and gentlemen, boys and girls, it’s your boy, Jaron Rice, founder and CEO of Magothy Payments.
If you are a business owner, I have a question for you. Are you shopping locally for your credit card processing services?
The reason I ask this is because going through COVID and all of the challenges that the small business community has, I’ve seen an amazing local rallying cry here in Maryland, specifically in Anne Arundel County, regarding the importance of shopping local. It’s one of those things where it’s really important for the small business community to stick together. I’ve seen a lot of local retailers who sell goods and things like that, and they’re like, “Don’t use Amazon. Buy locally. Shop locally.”
You ask them, “OK. I know you want us to shop locally. Who do you use for your payment processing?”
“Well, I use Square.”
Really? Because Square is to payment processing what Amazon is to local small businesses. There’s some good. There’s some bad, but ultimately, you’re sending those dollars somewhere else. You’re not keeping them in the community. Obviously as a merchant services provider here in Maryland, that sounds self-serving. It is to a degree, but the entire concept of shopping locally is self-serving for the business owner. You want people in your community to spend dollars at your business that is in that community.
When it comes to the payment processing side of things, a lot of small business owners don’t take the time to actually consider that there are local merchant services providers who have owners and employees who live in that community, who work in that community, who go to church in that community, who play recreational sports in that community. Wouldn’t you want to support those businesses?
Now obviously the quality of the product and service is paramount. Nobody is suggesting that you go with a crap company because they’re local as opposed to doing business with a better company who is far away. But all things being equal, wouldn’t you rather support the businesses in your local community? And so, that’s one of the things that I suggest.
If you’re in the Maryland area it doesn’t have to be Magothy Payments. But if you’re a member of a local chamber of commerce, I would highly suggest you get your chamber directory and see if there are reputable merchant services providers in your community who you can give your business to because, again, as a small business owner, you want people to shop locally and support your business. It’s fair to have the expectation that that kind of shop local mentality will be reciprocated in all areas of your business.
Just giving you something to think about. Once again, if you have any other questions you can certainly reach out to us at magothy.biz or calling 855-MAGOTHY. That’s 855-624-6849, and I will catch you guys in the next one.