For every dollar spent at a local business, most of the that dollar stays within the local economy many times over.
Why Local? Here’s ten good reasons.
Ten good reasons to shop at locally owned businesses:
- 1. Significantly more money re-circulates in your community when you buy from locally owned, rather than nationally owned, businesses: More money stays in the community because locally owned businesses purchase from other local businesses, service providers, and farms. Purchasing locally helps grow other businesses as well as your community’s tax base.
- Local businesses provide most new jobs: Small local businesses are the largest employer nationally, and in most communities provide the most new jobs to residents.
- One-of-a-kind businesses are an integral part of a community’s distinctive character: The unique character of any town or region is what people love about it, and what tourists come to visit. Richard Moe, president of the National Historic Preservation Trust, says, “When people go on vacation they generally seek out destinations that offer them the sense of being someplace, not just anyplace.”
- Local business owners invest in community: People who own local businesses live in the community, are less likely to leave, and are more invested in the community’s future.
- Customer service is better: Local businesses often hire people with more specific product expertise for better customer service.
- Competition and diversity lead to more choices: A marketplace of tens of thousands of small businesses is the best way to ensure innovation and low prices over the long term. A multitude of small businesses, each selecting products based not on a national sales plan but on their own interests and the needs of their local customers, guarantees a much broader range of product choices.
- Local businesses have less environmental impact: Locally owned businesses can make more local purchases, requiring less transportation, and generally set up shop in town or city centers as opposed to developing on the fringe. This generally means contributing less to sprawl, congestion, habitat loss, and pollution.
- Local businesses’ public benefits far outweigh their public costs: Local businesses in town centers require comparatively little infrastructure investment and make more efficient use of public services as compared to nationally owned stores entering the community.
- Local businesses encourages investment in the community: A growing body of economic research shows that in an increasingly homogenized world, entrepreneurs and skilled workers are more likely to invest in and settle in communities that preserve their one-of-a-kind businesses and distinctive character.
- Local businesses give more support to nonprofits: Nonprofit organizations receive an average 350 percent greater support from local business owners than they do from non-locally owned businesses.
Significantly more money re-circulates in your community when you buy from locally owned, rather than nationally owned, businesses:
More money stays in the community because locally owned businesses purchase from other local businesses, service providers, and farms. Purchasing locally helps grow other businesses as well as your community’s tax base.
Borrowed with permission from the Institute for Local Self-Reliance. ILSR has been working to enable communities with tools to increase economic effectiveness, reduce wastes, decrease environmental impacts and provide for local ownership of the infrastructure and resources essential for community well-being.