By Carla Northrop
Did you know that for every $100 you spend at a local business, $68 goes to the local community? And by shopping at local businesses, you support local services, like accounting, marketing, and supplying that these business owners employ to help manage their business. Local retailers also offer a wider variety of unique products you may not be able to find on traditional shelves. Creative minds and entrepreneurs are the types of people who built the nation, so why not support those people who reside near your home? In 2020, with nearly 77 million Americans employed by small businesses, every $10 million spent at local businesses creates 65% of new jobs. Because of the jobs that small businesses offer, neighborhoods can see an increase in home value by 50% which in turn mills tax revenue from new residents to grow community infrastructures like schools and public safety.
Live Local? Shop Local.
- 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 big-box 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 helping build the local economy, there are also notable intangible benefits that come from supporting businesses in our local communities.
- Local businesses are owned and operated by our neighbors! They care about and are invested in the well-being of our communities and their future.
- Local businesses are more accountable to 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.
Never stop supporting local businesses. In trying times like these when you may feel unable to help from your home, the answer simply is you still can, and pretty easily. You could purchase a local business gift card and donate it to a family in need. Many local businesses are tirelessly working to provide you with delivery services, online shopping options, and updates, classes, and tutorials on their social media channels. Collectively, we can all help small businesses survive and reap the benefits of shopping locally. Share your support for local and small businesses virtually by posting about them on social media using the hashtag #MDSupportsTakeout.
This blog post is brought to you by our co-founder and CEO Carla Northrop. Carla is passionate about local & small businesses thriving, as they enrich the communities that we serve.