Shop Local

Recent research from Civic Economics (www.civiceconomics.com) indicates that local eateries return nearly 79 percent of revenues to the community, compared to just over 30 percent for chain restaurants. “When profits stay local, it increases the community’s wealth, tax revenue and standard of living,” Sue Lynn Sasser, PhD and professor of economics at the University of Central Oklahoma says.

“Small businesses and local businesses are still the backbone of our economy,” Sasser adds. “They are local people serving local people and are generally committed to staying there, raising their families. After all, most businesses started out as a small, local business and earned the success of growing and expanding. It’s the American Dream.”

Here are 2 reasons to keep your cash close to home:

  1. Keep Money Local—Sales taxes fund our communities and provide vital services such as police and fire protection, street repairs and trash collection. “Local businesses are more likely to shop with other local businesses, keeping money moving in our local economy even longer,” explains Morgan Harris, owner of Green Bambino (www.green-bambino.com), the largest cloth diaper retailer in the state.
  2. Local Investment—Local businesses are less susceptible to national downturns and more likely to work harder to stay open. “Local ownership means that important decisions are made by people who live in our community and feel the impact of those decisions,” explains Chris Branson, co-founder of Keep It Local OK.


Comments

No Comments Yet

Did you enjoy this article? Live your opinion!