Jun 2014
Think Local
Posted By: In: OSI Insight, 0 Comments

Todays’ consumers have more choices than ever in the marketplace. With the increased search for the best deal, consumers need to consider all the benefits of shopping local rather than big box stores. The places that we shop at, eat at, and have fun at help our communities thrive. Our community businesses are an integral part of that and offer many benefits in return. These benefits include supporting the local community, stimulating the local economy, and impacting tax revenue and tax dollars returned.

Buy Local to Support Your Community

A study done by the Small Business Administration in 1991 found that small businesses donate more than twice as much per sales dollar to local non-profits, events, and teams, than big businesses do. It’s like saying, “You scratch my back and I’ll scratch yours.” When you support your neighbors, you help build a strong community and strengthen relationships. Small businesses often make each community unique, as well. This benefit directly impacts local tourism to the community.

Buy Local to Stimulate Your Local Economy

Research has shown that locally owned businesses provide greater benefits to each community’s local economy than national chain stores do. If every family in the U.S. spent an extra $10 a month at a locally owned, independent business instead of a national chain, over 9.3 billion would be directly returned to our economy.1

In addition, buying local helps keep jobs in the local economy. A study done in 2010 on the analysis of small business and jobs found that nationally, small businesses accounted for most of the net job growth between 1990 and 2003. In the recession of that time when large firms were laying off staff left and right, employment with small businesses remained steadier.

Buy Local to Impact Tax Dollars

As noted by ReferLocal.com, community tax dollars are better spent when local businesses are patronized. Since communities spend more taxpayer money to support national retailers than they do supporting small area businesses, taxpayers often end up paying higher taxes to absorb the cost. Rather, tax dollars can be better put to use when directed towards our local parks, community plazas, school districts, enhancing streets and infrastructure, when there are more local businesses supporting its base. This in turn directly enhances the quality of life for the residents.

The next time you make a purchase, think local! Whether your local community is Galesburg, Illinois, Davenport, Iowa or Peoria, Illinois, together we can make a difference.

1The Huffington Post

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