As the world becomes more globalized, it’s easy to undervalue the impact of shopping, eating, getting service, and (ahem) riding locally. With the rise of large-scale businesses and e-commerce, it can seem like small businesses are simply unable to compete. However, supporting these local places and spaces is critical for the sustainability and vitality of our communities.
One of the most significant ways in which supporting local businesses benefits the economy is by keeping money within the community. When you purchase goods or services from a local business, the money that you spend stays within the community, circulating through the local economy. This, in turn, creates jobs and other opportunities, while helping to support the infrastructure of the area. Studies have shown that for every $100 spent at a local business, $68 stays in the community, compared to only $43 for non-local businesses. Continue reading from LinkedIn
