Local First: How Choosing Local Goods Boosts the Economy
Supporting local businesses is not only a great way to find unique and high-quality products, but it also has a significant impact on the economy. When you choose to buy goods and services from local businesses, you are supporting your community in more ways than you may realize. The Local First movement focuses on promoting and supporting small, locally-owned businesses and encouraging consumers to choose local over large, national chains.
When you buy from a local business, a much greater percentage of your money stays in the local economy compared to when you shop at a big-box store. This is because local businesses typically source their products locally, hire local employees, and reinvest profits back into the community. In fact, a study conducted by the Institute for Local Self-Reliance found that for every $100 spent at a local business, $68 stays in the local economy, compared to only $43 when spent at a national chain.
By supporting local businesses, you are helping to create jobs in your community. Small businesses are the backbone of the economy, and they are responsible for employing a significant portion of the workforce. When you choose to shop local, you are helping to ensure that these businesses can continue to grow and thrive, creating more job opportunities for your neighbors.
Additionally, local businesses are more likely to give back to the community in other ways. They often support local charities, sponsor local events, and engage in other community-building activities. By supporting these businesses, you are helping to strengthen the bonds within your community and create a more vibrant and inclusive place to live.
Choosing to buy local products can also have environmental benefits. Local businesses typically have a smaller carbon footprint than large corporations that source products from all over the world. By supporting local businesses, you are helping to reduce emissions from transportation and promote sustainable practices within your own community.
So next time you are considering making a purchase, think about choosing local first. Whether it’s buying produce from a local farmer’s market, shopping at a boutique store, or dining at a locally-owned restaurant, your decision to support local businesses has a ripple effect that benefits the entire community. By choosing local, you are not only getting a great product or service, but you are also helping to boost the local economy, create jobs, and build a stronger, more resilient community.