Buying from local merchants means $.73 of every dollar stays in your community’s economy. Buying from an outlet of a non-local merchant means only $.43 of every dollar stays in your community’s economy.
Ever dollar spent therefore provides either $.30 contributed in bonus to your local economy, or $.30 that goes somewhere else.
Buying from non-local merchants may save you a small amount of money today. But it impoverishes you and your neighbours tomorrow.
And when you’re impoverished, price becomes the most important factor in purchase decisions. Then you’re way more likely to buy from a non-local merchant. The cycle continues and worsens.
It’s like the opposite of compounding interest: compounding deficit.
And once you get beyond the simple economic benefits of buying local, these additional 10 effects weigh in favour of supporting local businesses (in this case, in Grand Rapids, Michigan).
1. Significantly More Money Re-circulates In Greater Grand Rapids.
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 local helps grow other businesses as well as the Greater Grand Rapids 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 Grand Rapids is what brought us here and keeps us here. Our tourism businesses also benefit.
4. Environmental Impact Is Reduced.
Local businesses make more local purchases requiring less transportation and usually set up shop in town centers rather than on the fringe. 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.
6. Customer Service Is Better.
Local businesses often hire people with more specific product expertise for better customer service.
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 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. Investment In Greater Grand Rapids Is Encouraged.
A growing body of economic research shows that in an increasingly homogenized world, entrepreneurs and skilled workers are more likely to invest and settle in communities that preserve their one-of-a-kind businesses and distinctive character.
Originally found on PSFK, who found it on Local First.
sartenada 8:30 am on July 9, 2010 Permalink |
You have very keen eyes to observe what’s happening in trafic. I liked Your post.
James Wallace 1:10 pm on July 9, 2010 Permalink |
This is awesome!
Let’s not forget “The Sloucher”
The Sloucher
He is always driving a 1990 Thunderbird SC with faded paint, a broken trunk, low profiles and shiny rims. The rims are worth more that the car.
Required attire a white sleeveless T. Hair cut – shaved very very short.
Stance while driving – slouching. The seat so far back that you wonder how he can actually reach the break peddle. Left hand / arm on top of the wheel – hand hanging of the edge. Right hand – flip phone – Motorolla (usually gold). Always leaning way to the right in the seat – phone to ear.
Never signals, wanders lane to lane. Always riding the line to the right in conjunction with the seat leaning or how in depth the phone call may be.
Optional – girlfriend in passenger seat. They kiss at length at stop lights if he isn’t on the shiny gold bling phone.
We have all driven behind him.
Stewart 11:58 pm on July 9, 2010 Permalink |
Ok, a couple of additions to start us off.
1. Any Audi Driver
2. In fact you can add the majority of BMW and Mercedes drivers
3. Any vehicle where it’s clear that one of or both of the following is true
a). The height of the driver when standing is less than the height of the vehicle
b). Where the potential cost of the vehicle divided by two > than the apparent age of the driver