Local businesses are the backbone of the economy. When I say ‘local businesses’, I’m referring to the locally owned businesses, the mom and pop stores; not the big box stores like Walmart and Target. There are many reasons why you should support local businesses, but I thought I would share just a few, so next time you go shopping locally, it gives you a sense of being proud about shopping and it will bring a smile to your face to know that you’re helping support your community.
- 80% of the economy is made up of small businesses.
- Every dollar spent in a locally owned business returns about 45 cents to the community, whereas every dollar spent at the mall or with major retail chains only returns about 15 cents to the local area.
- It strengthens your community because, in return, local businesses donate time and money back into the community more frequently than national chains.
- It creates competition, entrepreneurship, and ultimately growth in your community.
- You ensure that sales tax revenue is reinvested into your community.
Let us know how you support local businesses and don’t forget to spread the word because we’re all in this together. As individuals, we cannot change the state of this nation’s economy, but as a community, we can make a difference and strengthen our local economy.