BUY LOCAL WEEK NOVEMBER 26 - DECEMBER 5, 2010

8th ANNUAL BUY LOCAL WEEK KICKS OFF

shopping at locally owned businesses boosts community heatlh & prosperity

 

Greensboro—Communities across the country will kick off the 8th Annual Buy Local Week on Friday, November 26, 2010 with events continuing through Sunday, December 5, 2010.  Business and citizen networks celebrate Buy Local Week during the holiday season to educate people about the benefits of shopping locally and to encourage shopping at locally owned and independent stores before shopping at chain retailers.

 

Economists forecast that U.S. consumers will spend approximately $445 billion during the 2010 holiday season. Studies have shown that dollars spent at local, independent businesses re-circulate in the local community up to three times more, making local holiday shopping an important investment for all towns and cities. It helps boost the potential for local business owners to be prosperous and encourages the growth of economic security, rather than send profits to corporations that own big box stores and out-of-town chains.

 

“We encourage people to buy local first this holiday season.  That means first buying the items we want and need at locally owned stores in order to maximize the benefits for our community.”

 

Buying local helps build more prosperous and healthier communities on several fronts. It:

·        Strengthens the local economy:  Local business owners buy more often from other local businesses. Therefore, the money spent is retained in the community.

Creates a healthier environment:  Buying items made closer to home cuts down on fossil fuel use, reducing the carbon impact. Reduced transportation costs can also mean more affordable goods.
Retains local flavor:  Experiences at local establishments are completely unique, expressing the local fl­avor of the area.
Increases community involvement:  Local business owners are more likely to get involved in and contribute to community efforts than corporations that own big box stores.
 

Studies support the idea that buying local has significant economic, job and environmental benefits:

·        Money spent at a locally owned business stays in the local economy and continues to strengthen the economic base of the community.[1]

Small, local businesses make indispensable contributions to communities and neighborhoods and at a higher rate than larger or out-of-state corporations.[2]
Most job growth comes from local independent businesses[3]
Small businesses, which are more often located in central business districts, have less impact on local ecosystems compared to larger retailers located in strip malls or stand-alone buildings.[4]
 

Visit the Business Alliance for Local Living Economies (BALLE) research page for a wider list of annotated studies:  http://www.livingeconomies.org/aboutus/research-and-studies

 

(Listing of Buy Local Week events in your area.)

 

 

 

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[1] A 2002 case study in Austin, Texas, showed that for every $100 in consumer spending at a national bookstore in Austin, the local economic impact was only $13. The same amount spent at locally based bookstores yielded $45, or more than three times the local economic impact (Civic Economics, Austin Unchained, October 2003).

[2] A study of businesses in Oregon detailing charitable giving showed that when in-kind contributions were included, small firms gave an average of $789 per employee, medium-sized firms $172, and large firms $334 (NFIB Small Business Policy Guide). Additionally, large firms contribute primarily to the area where the corporation is headquartered, not necessarily where they do business.

[3] David Korten, Yes! Magazine, September, 2002.  Also, according to a recent analysis by Civic Economics, an Austin, Texas-based research firm, if residents in West Michigan redirected 10 percent of their spending to locally owned companies, this shift would create 1,600 jobs.

[4] New Rules Project, Home Town Advantage Bulletin, September 2003.