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Double your economic impact, and other big reasons to shop local

Over 75 percent of Greater Spokane Incorporated member businesses have 50 or fewer employees. Shopping at those small and local businesses has a big impact in your community. How? Here are just a few ways it pays to shop local:

1: You’ll double your dollar’s impact.

Money spent at local retailers multiplies into extra investment in the local economy.

Studies begun in 2002 by Civic Economics showed that 47 cents of every dollar spent at local retailers and 65 cents of every dollar spent at local restaurants stays local. Compare that to the 14 cents at chain retailers and 30 cents at chain restaurants that stays local from every dollar collected.

2: You’ll get it the way you want it.

Small businesses excel at being responsive to the desires of their customers. In fact, one 2015 survey found that over half of shoppers say small businesses have better customer service than their larger counterparts.

“Many times, customer service can be better at a local business as the business gets to know you, and you, them,” says Steve Wilson, CEO of the Coeur d’Alene Chamber of Commerce. “They are your neighbors, friends, and family.”

3: You’re supporting neighbors in need.

An Oregon State University study found that companies with fewer than 100 employees gave an annual average of $789 per employee in cash and in-kind donations to nonprofits and charitable organizations, compared with $334 from employees at much larger firms.

“When you choose to shop at local businesses your dollars are being reinvested in the same region where you live, learn, work and play,” explains Heather Hamlin, Small Business Programs and Services Manager at Greater Spokane Incorporated. “Local businesses as a whole are incredibly generous and give back in so many ways.”

See more about the economic impact of shopping small and local at www.stcumoney.org

 

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