But there are other more crucial and far-reaching benefits. Shopping locally supports local job creation. Not only are small businesses the largest employer nationally, they provide the most jobs to local citizens.
Considered the backbone of the U.S. economy, small businesses have been responsible for creating about two-thirds of all new jobs in the U.S. over the past 20 years.
Small businesses build strong local economies that are more likely to weather recessions. Studies show that each dollar spent at independent businesses returns three times more money to the local economy than cash spent at a chain store. Local enterprises are also the customers of local accountants, wholesalers, attorneys, farmers, while big corporations tend to bypass such local entrepreneurs.
It’s documented that since local businesses generate more tax revenue per sales dollar, they build the local tax base, supporting various vital services. It’s also a fact that local businesses provide an average of 3.5 times more financial support to local non-profit groups and charities than national corporate stores.
Studies also indicate that local enterprises spend far more money locally, boosting local prosperity. Buying local minimizes impact on the environment, as it curbs sprawl and pollution while tending to encourage preservation of our communities’ architectural heritage.
Spending money with local entrepreneurs is an investment in keeping our communities unique, with their own distinctive character and charm. Small enterprises are owned by local citizens who have a long-term stake in the community and it’s future.
Most of all, however, spending money with local hometown businesses supports the kind of vibrant, cohesive community that we want to live in, with strong social interconnections, while it curbs materialism. Simply stated, buying local promotes a more fulfilling way of life.