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Why Shop Local?

Why Shop Local?

Why Shop Local?

We all play a vital role in sustaining our local economy. Our everyday decisions impact the viability of the place around us. One of the easiest ways to help sustain the vibrant place of Wenatchee is to think local, shop local this holiday season. Why shop local? Local businesses add quality jobs to the local economy and help build stronger communities. Every time you spend at a local business, the dollars recirculate back into our community, which in return is used to make purchases from our friends’ businesses, to donate back into other organizations, and to support our local farms — ultimately strengthening the foundation of our Valley.

About economic impact, for every $1,000,000 in sales, independent retail stores generate $450,000 in local economic activity, compared to just $170,000 for chains. The trends are the same for restaurants who actually generate more income for the local economy. Across both these sectors, we see 2.6 times as many local jobs created when spending is directed to independent business instead of chains.


Studies show that small businesses donate almost 2.5 times more per employee to local charitable causes than large, national competitors. Existing evidence offers perspective to a common misperception, small businesses give more time and money to charitable causes than other big businesses. A recent study done by SCORE showed the percentages of charitable donations made by small businesses:

  • Give to local charities: 66%
  • Support youth organizations: 48%
  • Donate to local first responders: 42%
  • Support local religious organizations: 39%
  • Aid local service groups (Rotary Club, scouts, etc.): 37%
  • Donate food or volunteer in soup kitchens: 32%
  • And 81% plan on giving in 2019.
Not only do small businesses give back to the community through charitable donations, but they also provide new jobs and cultivate human capital. Young companies are the primary source of job creations in the American economy. Businesses with fewer than fifty employees represent 95 percent of all U.S. companies. Over the past three decades businesses that were less than a year old created on average of 1.5 million jobs every year. “Young firms were hit hard during the Great Recession. Even still, from 2006 to 2009, young and small firms remained a positive source of net employment growth (8.6 percent) ...” [Wiens and Jackson, 2014]

When you choose to think local, and shop local, you are choosing to support the growth and evolution of our community. Our everyday spending strengthens community in ways we never thought it could. We help contribute to new jobs, charitable donations to other local organizations and encourage innovation and businesses to give back.

References:
Mitchell, S. (2020, November 17). Key studies: Why independent matters. Institute for Local Self-Reliance., from https://ilsr.org/key-studies-why-local-matters/#1.
Why buy local? Sustainable Connections. (n.d.)., from https://sustainableconnections.org/why-buy-local/.
Mitchell, S. (2019, March 5). Small businesses lend more support to local causes. Institute for Local Self-Reliance. from https://ilsr.org/small-businesses-lend-more-support-local-causes/.
Jackson, W. by J. W. C. (2014, September 24). The importance of young firms for economic growth. Ewing Marion Kauffman Foundation Kauffmanorg. Retrieved from https://www.kauffman.org/resources/entrepreneurship-policy-digest/the-importance-of-young-firms-for-economic-growth/.
 

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