At Potlukk, we work primarily with local, independently-owned businesses. But what does that mean?
This part is pretty simple. A local business is a business that provides goods or services to a local population.
Examples of local businesses include things like...
- Grocery stores
- Day cares
- Retirement homes
- Web designers
- Event spaces
- Boutique shops
Really, the sky's the limit when it comes to local businesses because ultimately, every area has some sort of local business community in some way, shape or form.
This is slightly trickier. Technically speaking, independently-owned businesses are businesses that are free from outside control. This means it's a privately owned (rather than publicly owned) business.
In our definition, it also means that it's not part of a franchise or a corporate branch of a larger entity. Franchisees typically have a national or global ad budget to spend, making it harder for local businesses to compete on the same level, marketing-wise. The franchiser offers benefits of scale.
Most businesses in the United States are categorized by their number of employees and/or their revenue. There are specifics by industry, legally speaking.
In the United States, a small business is typically a business that has fewer than 250 employees. And micro business is one with fewer than 6 employees. Generally, the revenue threshold is if the business makes under $7.5 million annually.
(For comparison, in Europe, a small business is one with fewer than 50 employees and a micro business is one with fewer than 10 employees.)
Small businesses are also considered to not be dominant in its field on a national basis. For Potlukkand our definition, a small business is one with no more than 10 locations.
These definitions matter because for us, our priority is making sure local, independently-owned, small businesses get as much bang for their buck as possible. Larger businesses (with their larger advertising budgets) can make this a challenge.