7 Benefits of Supporting Local Businesses

7 Benefits of Supporting Local Businesses

Buying from local businesses is the best way to keep our money in our own communities. By supporting local businesses, you are investing in the community you live in. For every $100 spent, an average of $68 to $73 returns to the community because business owners can then shop local from other merchants. For example, restaurant and food service owners can buy produce from local farmers. In that way, most of the money comes full circle.

It doesn’t stop there. There are many rewarding reasons to support local businesses including:

  1. Personalized Service – When a business owner can get to know you as a local customer, he or she can build a foundation of trust and good customer service.
  2. More Job Opportunities – Small businesses employ more people per dollar of revenue.
  3. Positive Environmental Impact – Shopping locally reduces the need for extended transportation, which in turn reduces traffic congestion, pollution, and depletion of resources.
  4. Greater Support for Local Non-Profit Agencies – Non-profit agencies, such as homeless shelters and food banks, receive up to 350 percent more in donations from other locally-owned businesses as opposed to businesses that are not owned locally.
  5. Local Businesses Give Back – The taxes paid by local business owners go back into the community to support schools, roads, parks, and local programs.
  6. Unique Products – Locally-owned businesses have the freedom to make and sell their own products without corporate constraints. For example, local Utah companies like Fernwood Candy have served their communities for decades by offering milk chocolate candies made using high-quality ingredients and traditional candy making techniques.
  7. The Owners Become Community Leaders – Local business owners can set the example by supporting other businesses financially and through friendship and loyalty.

Supporting local businesses is good for consumers, business owners, their communities, and the environment. When you consider that up to 73 percent of the money spent locally stays in the community, shopping locally is a great decision to make.