“Big enough to save, small enough to care”

The nation has started to take a different approach to who, what, when, why and how they invest. The pandemic brought to light the necessity of staying local and supporting local businesses compared to national or more corporate companies that have increasingly become perceived as less genuine and more expensive.

At Riviera Insurance, we pride ourselves as a business with integrity that is “big enough to save, small enough to care” and are spreading awareness of the importance of supporting local businesses and their communities.

Who is Riviera Insurance?

As a locally owned insurance broker based in the South West, we strive to offer something different with a bespoke service that champions community and stands the test of time.

Our customer service is our culture. We specialise in providing first-class insurance products for individuals and businesses, from commercial to home, travel, life, and vehicle insurance, with a team that has 100 years of combined experience. As a local insurance provider, our values closely align with the community and in support of the local economy, unlike other brokers that have either closed or been purchased by national companies, resulting in a detrimental effect on their local communities.

The Difference Between Local and Multinational Companies

Multinational corporations are growing at an exponential rate, which is excellent for consumers as they have a variety of products and services to choose from, however, it’s not all that great for the local eaconomy.

Local businesses operate within a certain radius (on a local scale), have more connections in the community, and often use a distinct and personalised approach to build a connection with their clients. Multinational corporations operate in two or more countries and have strengths in distribution, efficiency, and mass marketing. Multinational companies also benefit from more staff, budgets, and resources, which they need to reach their wider market radius.

Many businesses may ask themselves: Go global or stay local? However, what they don’t realise is small is the new big. Staying local allows businesses to hone in on their local market, create a loyal customer base, and build a network of trust and support in their communities.

Why Support Local Businesses?

By supporting local businesses, consumers help fuel economic growth that, in turn, increases job opportunities and raises employment rates in the area. Local businesses are also more likely to get help from their government and local councils with incentives such as grants and tax cuts.

Local businesses could be considered the backbone of the UK economy, with small and medium businesses having a combined turnover of £2.3 trillion in 2021. As for micro-businesses (with ten or fewer employees), a maximum of £953 billion was contributed, amounting to 52 per cent of the private sector’s overall turnover.

Although these statistics are positive, there are still many local businesses making the tough decision to go national or international. Some locally owned businesses in the Southwest decided to make the bold move, including local providers whose offices didn’t reopen following the pandemic, and a previous local broker who went national. There’s nothing wrong with growth, in fact, expanding can help to:

  • Increase revenue streams.
  • Receive more investment opportunities.
  • Gain access to larger talent pools.
  • Reach a wider audience.
  • Achieve global exposure.
  • Diversify company markets.

Although all the above are very positive, it’s still important to make sure businesses are a part of their local community, because that’s at the heart of it all and where it started. In turn, the community needs to provide support to ensure businesses stay open.

Some businesses might decide to dip their toes in the national or international waters but remain nestled in the heart of their community. For example, our local brokerage offers certain policies nationally, but we’re still heavily focussed on growth in our local area and how we can get other businesses involved to help one another.

With Brexit, the pandemic, and the current energy and cost of living crisis, businesses and individuals have had to rethink how and where they spend their money. That’s why consumers must understand the benefits of supporting local businesses for themselves and their communities.

The Benefits of Choosing Local Businesses

There are many benefits to choosing local businesses, including:

  • Relationships are built on trust. It’s easier to build a relationship with a local business that you can communicate with face to face and more frequently.
  • Being a part of a community is rewarding and shows that you care about your local community.
  • Supports the local economy and creates better opportunities for locals.
  • Brings character and uniqueness to the ever-evolving commercial world.
  • The products you invest in offer greater originality and individuality.
  • Local businesses are more about your experience and the results rather than money.
  • Provides the community with more job opportunities.

Boosts the local and national economy. These are just some of the many benefits that come with supporting local businesses. Riviera Insurance is an insurance broker with integrity, and we pride ourselves on ingraining customer service in our culture.

To find out more about our services, get in touch.