Page 2 - News On 7 May 2021

NEWS ON 7

M A Y 2 0 2 1 • I S S U E 0 3 • V O L U M E 1 • F R E E

THINK LOCAL!
WHY SUPPORTING LOCAL BUSINESS IS GOOD FOR OUR COMMUNITIES

In lean times, consumers pinch pennies and eliminate most luxuries. From cutting back on extras
to more prudent spending and budgeting, people inject a degree of caution into their financial
habits. In such a volatile environment, smaller, local businesses count on your patronage in order
to stay afloat; every transaction is precious to them. So when deciding where to spend your hard-
earned dollars on tonight’s dinner or a gift for a friend, consider the benefits of turning to local,
independently owned businesses within your community.
There are far-reaching advantages to deciding to “shop local.” By supporting local businesses, you are in turn supporting your
local economy; significantly more money stays in a community when purchases are made at locally owned – rather than
nationally owned – businesses. Here are some positive impacts of small, independent business on local economies.
Local businesses are more likely to utilize other local businesses such as banks, service providers, and farms. For every $100 you
spend at local businesses, $68 will stay in the community.
Independent retailers return more than three times as much money per dollar of sales to the community in which they operate
than chain competitors. Independent restaurants return more than two times as much money per dollar of sales than national
restaurant chains.
Small businesses have accounted for 65% of all new jobs over the past 17 years. In addition to helping build the local economy,
there are also notable intangible benefits that come from supporting businesses in your local community. Local businesses are
owned and operated by your neighbors! They care about and are invested in the well-being of your community and its future.
Local businesses are more accountable to their local communities and donate more money to non-profits. Supporting local
businesses is good for the environment because they often have a smaller carbon footprint than larger companies.
It isn’t always the easiest or most convenient option to visit a local independent business rather than a large national chain that
might be down the road. However, there are plenty of ways you can help support your local economy in Hastings County by
thinking local first. Try the menu at a local restaurant for lunch or dinner, Purchase a birthday present at a local gift shop, Join a
local gym, Visit a local nursery or hardware store for your lawn and garden needs, Get your car serviced at a local mechanic.
Another way we can help support local businesses is with these 3 simple gestures, purchase a gift card, stock up on items you
use regularly and write a positive online review. Writing a review is one of the best and simplest acts of kindness you can do to
support a local business, and it's completely free and won’t take too much time!
Supporting local businesses encourages a sense of community and gives our economy a chance to thrive by putting money back
into it. It’s so important to come together and support each other any way we can, especially during these difficult times. So the
next time you need to run out for some groceries or do a little shopping, seek out a local business and see what they have to
offer! You could discover some great products and services while helping to build a strong and successful community around
you.

Shari
Shari Pearce, President
Madoc & District Chamber of Commerce
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