Supporting businesses supports community
Campaigns to “shop local” are often rooted in encouraging locals to support the small businesses in their communities. Consumers no doubt recognize that such support is vital to the survival of small businesses, but they may not realize just how much thriving local businesses benefit their communities. According to the Small Business Economic Impact Study from American Express, an average of two-thirds of every dollar spent at small businesses in the United States stays in the local community. That support can be especially valuable as the world tries to work its way out of a global recession brought on by the COVID-19 pandemic. Unemployment rates rose significantly within a month of the World Health Organization declaring a pandemic as the COVID-19 virus rapidly spread across the globe. While large international corporations were in better position to avoid layoffs, small, locally owned businesses faced an uphill battle as they tried to remain in operation and retain their staffs. That’s another way shopping local can benefit local communities. The Business Alliance for Local Living Economies reports that, for every $10 million spent locally, 57 new jobs are created at local businesses. That’s an important factor to remember.