Support area business
Published 10:18 am Wednesday, November 29, 2017
It’s cyclical: shopping small supports area jobs and boosts the area economy.
According to the U.S. Small Business Administration, since 1995 small businesses have generated 64 percent of new jobs and paid 44 percent of the total U.S. private payroll.
“When we shop small — spending our money at locally-owned small businesses within our neighborhoods and towns — we help create two out of three net new local jobs,” officials said in a press release. “…Compared to chain stores, locally-owned businesses recycle a much larger share of their revenue back into the local economy, enriching the whole community, which means more money for local police and fire departments as well as schools and other community- supported infrastructure and services.”
That release cited that for every $100 spent, roughly $68 stays in the local economy compared to only $43 from larger businesses. According to the release, small businesses donate 250 percent more than larger businesses to nonprofits and community causes.
On the heels of the nationally-recognized Small Business Saturday and Black Friday, it would behoove those who are still in the midst of finishing Christmas shopping to do what shopping they can locally. To do so makes area businesses stronger and, in turn, creates a more promising market for prospective businesses looking to expand or to establish themselves in the first place. The growth of the economy locally will allow more businesses to continue to establish themselves which, in turn, allows more local dollars to be spent and taxed locally. We support local businesses; I hope you will too. We ask those who aren’t committed to spending their dollars within their local economy to reconsider their shopping decisions. A local economy thrives with support from those who are a part of it.
Morgan White is a staff reporter for The Charlotte Gazette. His email address is Morgan.White@TheCharlotteGazette.com.