For Every $100 Spent at Local Small Businesses, $68 Stays in the Community. Invest Wisely.

For Every $100 Spent at Local Small Businesses, $68 Stays in the Community. Invest Wisely.

When you’re deciding where to spend your hard-earned money, it’s easy to default to big box stores or online giants. However, it’s crucial to remember that where you shop has a significant impact on your local community. Studies have shown that for every $100 spent at a local business, approximately $68 stays within the local economy. (Source: Civic Economics) This striking statistic highlights the power of conscious consumerism and the importance of investing wisely in your community.

The Ripple Effect of Local Spending

This phenomenon, often referred to as the “multiplier effect,” occurs because local businesses are more likely to reinvest their revenue within the community. They purchase supplies from local vendors, hire local employees, and support local charities and organizations. This creates a ripple effect, generating economic activity and strengthening the overall financial health of the community.

Beyond the Dollars and Cents

But the benefits of shopping local extend far beyond the economic impact. Here are some additional reasons to prioritize your local businesses:

• Job Creation: Small businesses are the largest employers nationally, and in our community, they provide jobs for our friends and neighbors. When you support local businesses, you’re contributing to job growth and economic stability.
• Unique Character: Local businesses contribute to the distinct character and charm of a community. They offer a diverse range of products and services that reflect the local culture and preferences.
• Community Building: Local businesses serve as gathering places, fostering a sense of community and connection. They provide opportunities for people to interact, build relationships, and support one another.
• Environmental Sustainability: Local businesses often have a smaller environmental footprint than large corporations. They may source products locally, reducing transportation costs and emissions.
• Personalized Service: Local businesses often provide a more personalized and attentive customer service experience. They value their customers and strive to build long-term relationships.

Invest in Your Community

Choosing to spend your money at local businesses is an investment in your community’s well-being. It’s a way to support your neighbors, strengthen the local economy, and contribute to a more vibrant and sustainable future.

Here are some ways to make a difference:

• Make a conscious effort to shop at local businesses whenever possible.
• Spread the word about your favorite local spots.
• Leave positive reviews online to help others discover hidden gems.
• Attend local events and festivals that showcase local businesses.
• Advocate for policies that support small business growth and development.

By making informed choices about where you spend your money, you can make a real difference in the lives of your neighbors and the overall health of your community. Invest wisely, shop local.

Here is an article about how much stays local when you buy from a local small business. Article by Ad Moyer

Here is an article by Fundera on how much stays local when purchasing from a local small business.