Shop Small, Buy Local, Dine Local and make a big impact in your community!
“According to Fundera, “small businesses generate $68 of local economic return for every $100 spent with them.” On the other hand, it’s estimated that for every $100 spent at a large business, only $43 stays in the community, according to the Civic Economics Study in Grand Rapids, Michigan.
There are 28.8 million small businesses in the country and they account for 99.7% of all business in the US.
A local business that is thriving and growing is also much more likely to:
- Hire more employees.
- Support a local sports team or PTA.
- Sponsor an event.
- Give to a local nonprofit or charity. According to the Seattle Good Business Network, small businesses donate 250% more than larger businesses to non-profits and community causes.
- Give bonuses to employees.
- Expand into a new product or service line.
- Pay employees more or be able to afford to offer benefits/better benefits or employee perks.
- Move into a larger location, which may help a landlord who hasn’t been able to rent the space.
- Pay additional tax dollars that help fund local needs like police, fire, and infrastructure.
Does it Matter?
The impact is sizable.
It’s estimated that over $9.3 billion would be returned to our US economy if every family spent just $10 a month at a local business. That’s not even one meal’s worth of spending a month! It’s really only a few cups of coffee or a glass of wine a month. What a tremendous impact we could have if everyone could commit to that.
And we’re not suggesting additional spending. We’re simply suggesting willing supporters to switch the $10 a month they’re currently spending elsewhere to $10 with local businesses.
$10 dollars!
That’s it and that small spend can have a huge impact.”
Here are some ways to support your local community:
- Tell the people you love about the small businesses you love. Encourage friends, family, and neighbors to do the same on social media.
- Get out and shop, buy, and dine at the small businesses in your community! Be sure to share your favorite places.
- Seek out the business that provides the best solution for what you need/want. Small businesses are everywhere.
Your Support of CRICC Members supports Your Community!
Sources
SCORE.org
Frank Kenny – Small Business Season