From cutting back on extras to more cautious spending and budgeting, especially now, people are paying close attention on where their money is going. In such a volatile environment, smaller, local establishments count on your patronage in order to stay in business and every transaction counts.
So when deciding where to spend your hard-earned dollars on tonight’s dinner or a gift for a friend, consider the benefits of turning to local, independently owned businesses within your community.
Plus there are so many other reasons to shop local! By supporting local businesses, you are in turn supporting your local economy. Significantly more money stays in a community when purchases are made at locally owned – rather than nationally owned – businesses.
- Local businesses are more likely to utilize other local businesses such as banks, service providers, and farms.
- For every $100 you spend at local businesses, $68 will stay in the community.
- Independent retailers return more than three times as much money per dollar of sales to the community in which they operate than chain competitors. Independent restaurants return more than two times as much money per dollar of sales than national restaurant chains.
- Small businesses employ 77 million Americans and accounted for 65% of all new jobs over the past 17 years.
In addition to an economy boost, shopping local has other benefits as well
- Local businesses are owned and operated by your neighbors! They care about and are invested in the well-being of your community and its future.
- Local businesses are more accountable to their local communities and donate more money to non-profits.
- Supporting local businesses is good for the environment because they often have a smaller carbon footprint than larger companies.
It isn’t always the easiest or most convenient option to visit a local independent business rather than a large national chain that might be down the street.
However, there are plenty of ways you can help support your local economy:
- Try the menu at a local restaurant or brewery for lunch or dinner (most offer take out!)
- Purchase a birthday present at a local gift shop (some, like us, even offer local delivery!)
- Join a local gym, yoga or fitness studio
- Visit a local nursery or hardware store for your lawn and garden needs
- Get your car serviced at a local mechanic
- Visit a farmer's market/stand or small locally owned grocery to purchase the ingredients for your family dinner.
So the next time you need some groceries or want to do a little shopping, check out your local businesses! You could discover some great products and services while helping to build a strong and successful community around you.
What's your favorite local business and why?
*** Sources include the U.S. Small Business Association and U.S. Department of Labor