Making purchases at outlet malls and online is a fact of life. But shopping local has clear advantages that impact not just the shoppers and businesses, but the entire community. So, let’s look at why we all should shop closer to home.
Tax and Property Benefits
Spending locally ensures that your sales taxes are reinvested where they belong – in the community! More tax revenue per sales dollar is generated; thus, a greater percentage of local independent businesses keeps taxes lower. Shopping local also makes your property more valuable. Lively, vibrant neighborhood shopping areas are considered an advantage when selling a home.
It makes sense that small businesses donate more to local nonprofits, events, and teams compared to big companies. In fact, they donate twice as much per sales dollar. Local shop owners understand the needs of the community and want to “pay it forward.”
Locally owned businesses are not the chain cookie-cutters that sell the same stuff to the masses. These shops carry a wider array of unique products because items are chosen specifically for an individual market. Area neighbors, visitors and guests are attracted to interesting and unique communities.
Local business owners have roots in the community where they live. As residents, they want to get involved in key development decisions that shape not just their business, but their lifestyle, families, and environment.
What Benefits Some, Benefits All
Not only do independent businesses employ more people directly per dollar of revenue, they are also the customers of local printers, accountants, wholesalers, farms, attorneys, etc. – expanding opportunities for local entrepreneurs.
Money Stays Local
When you shop at home, the bulk of the money spent stays local. Consider this, according to the research firm Civic Economics, for every $100 you spend:
- In a local small business, $68 stays in your community.
- At a local branch of a chain store, $43 remains.
- Online, virtually no money stays local.
Bottom line (literally and figuratively), local businesses are our friends and neighbors. They’re passionate about what they do and have a vested interest serving you. Why not take advantage of it?