DALLAS (NEXSTAR) — With many local businesses across America struggling due to the pandemic, many communities are pushing “buy local” initiatives designed to get people in the doors of locally-owned stores and restaurants.
Here are a few reasons to buy local in 2020:
More Money Stays Local
When you patronize local businesses and “buy local,” your money is more likely to stay in the community.
One study showed that for every $100 you spend at locally owned businesses, $68 will stay local. When you spend that same $100 at a national chain store, an estimated $43 stays in the area.
In addition to keeping more money in the local economy, buying local helps in many other ways. Local businesses are one of the top employers across America.
Local businesses often reduce the amount of times a product is shipped to make it to their shelves. Additionally, they’re more likely to be in walkable areas and that reduces congestion, pollution and habitat loss.
Local Businesses Invest Locally
Since businesses are owned by people who live in the community, small business owners are more likely to invest in the local community as well as non-profit or charitable efforts.
Don’t want the same item everyone else owns? Or don’t want something that’s created and distributed from overseas? Locally-owned stores often showcase unique products and goods allowing for more consumer choices.
Boost the Local Economy
Studies show buying from independent, local businesses raises the number of times your money is used to make purchases in and around your community. This allows your dollars to keep strenthening the area’s economic base.