There are many reasons why buying locally makes sense. 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 companies rather than nationally owned businesses, 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.
In cities throughout the Silicon Valley, chambers of commerce can and should be active participants in the economic development of their business communities. The Campbell Chamber of Commerce, for example, recognizes this need and works in affiliation with the city to help drive the local economy. We do this by collectively reviewing policies and procedures to ensure they are business friendly. We have also instituted a marketing plan to attract new employers to Campbell.
Like all cities, the goal is to build a strong local economy, and local governments that partner with their chambers have a genuine opportunity to turn that vision into a reality. That strong partnership is more crucial today than ever, as the economy continues to recover and competition for local dollars remains fierce.
Protect your community: Keep money local Premium content from Silicon Valley / San Jose Business Journal by Neil Collins Date: Friday, July 1, 2011, 3:00am PDT
When you purchase at local, independently owned companies rather than nationally owned businesses, 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.
In cities throughout the Silicon Valley, chambers of commerce can and should be active participants in the economic development of their business communities. The Campbell Chamber of Commerce, for example, recognizes this need and works in affiliation with the city to help drive the local economy. We do this by collectively reviewing policies and procedures to ensure they are business friendly. We have also instituted a marketing plan to attract new employers to Campbell.
Like all cities, the goal is to build a strong local economy, and local governments that partner with their chambers have a genuine opportunity to turn that vision into a reality. That strong partnership is more crucial today than ever, as the economy continues to recover and competition for local dollars remains fierce.
Protect your community: Keep money local Premium content from Silicon Valley / San Jose Business Journal by Neil Collins Date: Friday, July 1, 2011, 3:00am PDT
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