Shopping Locally: The Economic and Community Benefits Explained
If you live in a community, chances are you’ve heard the phrase “shop local” before. But have you ever taken the time to really understand why it’s so important to support local businesses? From helping the economy to fostering a sense of community, there are numerous benefits to shopping locally. In this article, we’ll delve into the economic and community benefits of shopping locally and why it’s a crucial aspect of building a strong and vibrant community.
The Economic Benefits of Shopping Locally
Boosting the Local Economy
When you shop at a locally owned business, your money has a much greater chance of staying within the community. According to a study by the American Independent Business Alliance, for every $100 spent at a locally owned business, $68 will stay within the community. In comparison, only $43 of every $100 spent at a national chain store will stay local. This is due to the fact that local businesses are more likely to source their products and services from other local businesses, creating a domino effect that benefits the entire community.
Creating Jobs
Local businesses are also key job creators in a community. According to the Small Business Administration, small businesses created 1.9 million net new jobs in 2018, which accounted for 64.9% of the total net new jobs in the United States. These jobs not only benefit the individuals who work at these businesses but also contribute to the overall economic health of the community.
Tax Revenue
Shopping at local businesses also has a significant impact on the taxes we pay. Local businesses typically pay more in taxes than their big chain counterparts, which further contributes to the local economy. These taxes help fund essential services such as infrastructure, education, and public safety, making our communities better places to live.
The Community Benefits of Shopping Locally
Fostering a Sense of Community
When you shop at a local business, you’re not just another faceless customer. You’re likely to build relationships with the business owners and employees, creating a sense of community. These businesses become a gathering place where people can interact with one another and form meaningful connections. This sense of community is essential for creating a positive and vibrant place to live.
Unique and Personalized Products and Services
Shopping locally also gives you the opportunity to support small businesses that offer unique and personalized products and services. Unlike big chain stores, local businesses often have a more personal touch, creating products and services that are tailored to the needs of the community. This not only makes for a more enjoyable shopping experience but also helps to preserve the character and diversity of a community.
Less Environmental Impact
Shopping locally can also have a positive impact on the environment. Local businesses tend to source their products and materials from nearby, resulting in fewer carbon emissions from transportation. Additionally, many local businesses prioritize sustainable and eco-friendly practices, further reducing their environmental impact. By supporting these businesses, we can help build a more sustainable future for our communities.
Final Thoughts
As you can see, there are numerous economic and community benefits to shopping locally. By supporting local businesses, we not only contribute to the growth and success of our communities but also create a better quality of life for ourselves and our fellow residents. So the next time you’re tempted to shop at a big chain store, remember the positive impact your purchasing decisions can have on your community and make the conscious choice to shop local.
