VizyPay, a payment processing company, has launched the “Look Local First” initiative to help small business owners recover after the COVID-19 pandemic.
The COVID-19 pandemic has been notably challenging for small businesses, which have been hit hard by restrictions and reduced foot traffic. Many companies have struggled to adapt to reduced revenue levels, while others have been forced to close their doors permanently.
VizyPay's “Look Local First” initiative aims to support small businesses by encouraging consumers to shop locally. The enterprise includes a digital platform that allows small business owners to connect with their customers and promote their products and services. It also provides consumers with information on local businesses, including their hours of operation and available services.
Additionally, the initiative provides branded merchandise, such as stickers, t-shirts, water bottles, and more. The revenue made from these sales is used to fund the program further.
Two entrepreneurs founded the Iowa-based VizyPay to assess and aid the financial needs of small-to-medium businesses (SMBs). They provide payment solutions through subscriptions that include POS systems, terminal options, applications, and cash-friendly alternatives.
“When customers spend their money at locally-owned businesses, 68% of that revenue stays circulating in the local community compared to 43% when shopping at a large corporate chain,” VizyPay's Marketing Director Amy Hayes told Fintech News. “We hope to help encourage that spending with “Look Local First,” especially as small businesses have been hit hard by COVID-19.”
The “Look Local First” initiative has received praise from small business owners and community leaders from collectives such as Five Monkeys Inc. in Des Moines, IA, and the Urbandale Chamber of Commerce. VizyPay's clients laud the service as a much-needed boost for businesses struggling to survive during the pandemic. By promoting local businesses, the initiative helps small business owners and strengthens local economies.