Strengthen your local economy. Studies show that small businesses invest more into their community per dollar than larger chain stores or mega retailers.
Spending $100 on an independent business puts approximately $58 back into the local economy vs $33 from a chain store.
“Analyzing data collected from 28 locally owned retail businesses in Portland, Maine, along with corporate filings for a representative national chain, the researchers found that every $100 spent at locally owned businesses contributes an additional $58 to the local economy. By comparison, $100 spent at a chain store in Portland yields just $33 in local economic impact. The study concludes that, if residents of the region were to shift 10 percent of their spending from chains to locally owned businesses, it would generate $127 million in additional local economic activity and 874 new jobs.” - https://ilsr.org/key-studies-why-local-matters/#1
It’s better for the environment. Buying products that are made, grown and sourced locally means those products have a much shorter distance to travel to get into your shopping bag and then into your homes.
That means fewer resources consumed (i.e gas) which is a huge win for the environment. Most food items in the U.S travel 1,500 miles to reach their consumer. The trucks and trains used to ship these products are responsible for 25% of our nation’s smog-causing pollution.
Your taxes may be lower as a result. Local businesses require little infrastructure investment (i.e they don’t have to build a store — they just take up a vacant space already available) and on average, use public services more efficiently than big box stores do upon entering the community. They also tend to generate more tax revenue per sales dollar. In a nutshell, small businesses make your tax money work harder for you and for the community.
“Specialty retail — primarily small neighborhood-located business — generate a net annual return to municipalities of $326 per 1,000 square feet of store space. Business parks, offices, and hotels also generated positive net revenue. However, the infrastructure and maintenance costs generated by big box retail outweigh tax revenues, resulting in a cost to taxpayers of $468 per 1,000 square feet of floor space each year.” -http://www.amiba.net/resources/localhero/
Small businesses create jobs. It’s no surprise that local businesses tend to hire people within the community. Supporting local small businesses means supporting jobs for our neighbors and even increasing the job pool as small businesses grow. In fact, startups make up 3 percent of employment, but an impressive 20 percent of gross job creation!
Celebrate the uniqueness of the community. Fredericksburg is quirky, wonderful and full of stories. Part of that quirkiness derives from how different all our fabulous shops are! Buying local helps celebrate and support what makes Fredericksburg unique!