How: Shopping Locally
Affects the Local Economy.
Shopping locally has everything to do with the importance of keeping your money in your community. Think about the real costs to a community when it loses it’s local business base. To watch a brief presentation on the benefits of shopping locally, click here.
Independent local businesses hire a wide array of supporting services like architects, suppliers, and contractors. Business opportunities increase for local lawyers, accountants, advertising agencies, and others. Without independent local businesses, supporting services and surrounding local businesses are also negatively affected.
In a chain, or a large corporately-owned store, the profits are primarily exported to corporate headquarters. With local businesses, profits stay in the community. Profitable businesses will purchase from other local businesses, hire people in the community for services and be more likely to donate more to non-profit organizations and charities.
Of every $100 spent at a local business, $68 will stay in the community – compared with only $43 at a chain store.
Local businesses provide a strong foundation for the community. These fees, such as taxes, support public services, education, parks and community programs. It is important to know that for every $100 spent at a local business, $68 of that money will stay in the community. Compared with only $43 out of $100 staying in the community when spent at a chain store, that’s a lot of extra money going back into the community!
Local retailers and distributors also carry a higher percentage of locally made goods in comparison to large chain stores. This creates more jobs for local producers and provides many benefits to small manufacturers. Small manufacturers rely on local retailers to give their new products a chance. Local retailers have more flexibility in the decision to take chances with new products, as they don’t necessarily need to go through head office or a national manager to make decisions.
As a small business owner, does this ring true to you? Do you purchase local goods and services more often than not? By doing so, you’re supporting other local employers and employees who will be more interested in supporting your business as well! Take a moment to look over your suppliers and service partners and make sure you’re keeping it local, too!
The choice is clear: by shopping at locally owned shops, you are giving the power back to your community! Support local shops and they will, in turn, support the neighborhood you both love.
Up Next: Shopping Local: The environment will thank you
Yes, we support local businesses!
Quick links to the rest of the series: