Compared to chain stores, locally owned businesses recycle a much larger share of their revenue back into the local economy, enriching the whole community. A marketplace of small businesses is the best way to ensure long-term innovation, low prices, an increase in jobs and a decrease in environmental impact. When you purchase at local, independently owned store rather than nationally owned busines
ses, more money is kept within your community. For every dollar spent at a local business, 73 cents stays in the community versus 43 cents at non-local companies. Locally owned businesses tend to support other local companies, which in turn encourages their profitability as well as the growth of the local tax base. Neighborhood businesses generally donate more money and goods to local charities than non-local owners. As the largest employers nationwide, local companies contribute to the job market and they provide better customer service by hiring people with expertise specific to their product or service. Owned by people who live in the neighborhood, local business owners are more likely to stay in the area, and as such are more invested in the community’s future. Economic research shows that in an increasingly regulated world, entrepreneurs and skilled workers are more inclined to invest in and inhabit communities that retain and showcase their unique businesses and distinctive character. They add a distinct character to a town and as such increase tourism as visitors are drawn to locations with unique shopping and attractions.