The year 2020 has been a different and challenging. With the coronavirus pandemic ravaging the global economy and wiping out calendars and social gatherings, the holidays will no doubt have a different feel. If you’re still planning on checking off all your holiday gift lists for those you love, consider supporting local businesses.
The math for buying close to home is compelling — for every $100 spent at a locally-owned business, $73 remains in the local economy, and $27 leaves. Compare that to the same $100 spent at a non-locally owned business, where $43 remains in the local economy and $57 leaves.
Many local businesses are cognizant of the pandemic and are offering curbside pickup, delivery options, and more online choices. Here are the top 10 reasons to shop local, according to The Local Good.
1. Local Economic Stimulus. When you purchase at locally-owned businesses rather than nationally owned, more money is kept in the community because locally-owned businesses often purchase from other local businesses, service providers, and farms. Purchasing locally helps grow other businesses as well as the local tax base.
2. Non-Profits Receive Greater Support. Local business owners donate more to local charities than non-local owners.
3. Unique Businesses Create Character & Prosperity. The unique character of your local community is defined in large part by the businesses that reside there, and that plays a big factor in your overall satisfaction with where you live and the value of your home and property.
4. Environmental Impact Is Reduced. Small local businesses usually set up shop in the town/village center, providing a centralized variety that is much friendlier to a community’s walk score than out of town shopping malls. This generally means contributing less to sprawl, congestion, habitat loss, and pollution.
5. Most New Jobs Are Provided By Local Businesses. Small local businesses are the largest employers nationally. Plus, the more jobs you have in your local community the less people are going to have to commute which means more time and less traffic and pollution.
6. Customer Service Is Better. Local businesses often hire people with more specific product expertise for better customer service. You are also going to see these people around town and they are less likely to blow you off or be rude because they have to face you day after day.
7. Local Business Owners Invest In Community. Local businesses are owned by people who live in this community, are less likely to leave, and are more invested in the community’s welfare and future.
8. Public Benefits Far Outweigh Public Costs. Local businesses require comparatively little infrastructure and more efficiently utilize public services relative to chain stores.
9. Competition And Diversity Leads To More Consumer Choices. A marketplace of thousands of small businesses is the best way to ensure innovation and low prices over the long-term.
10. You Matter More. We talk a lot about exerting influence with your purchasing choices, or “voting with your wallet.” It’s a fact that businesses respond to their customers but your values and desires are much more influential to your local community business than the large big box stores.
Nobody can deny the changes the world has seen but as we near the last month you can still do something good for your community by supporting local businesses.
UnitedOne is passionate about improving the lives of all residents throughout the communities we serve. The credit union and our employees support and sponsor local causes that are important to us all. We are proud of the roles we play in helping our communities and neighbors enjoy better lives and futures. We recognize the importance of contributing to our communities and being a strong corporate citizen. UnitedOne is an active partner with many worthwhile organizations and events held throughout the year.
We’re here because you’re here.
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