When consumers choose to support locally owned businesses, 68% of those dollars spent stay within our community as opposed to only 14% when choosing to buy from non-local retailers and businesses.
This influx of revenue is essential for local business growth, strong schools, safer streets and an overall increased quality of life. By spending more money locally, citizens and visitors alike are contributing to the positive growth of the Triad, and TLF is working to turn local economic prosperity into a way of life.
10 reasons to shift spending to locally owned businesses
- Significantly more money stays in the Triad when purchases are made at locally owned rather than nationally owned businesses. More money stays in the community because locally owned businesses purchase from other local businesses, service providers and farms.
- More new jobs are provided by locally owned businesses. Small local businesses are the largest employer nationally.
- Our one-of-a-kind businesses are an integral part of our distinctive character. The unique character of the Triad is what brought us here and what will keep us here.
- Local business owners invest in community. Local businesses are owned by people who live locally and are more invested in the community's future.
- Customer service is more personal. Local businesses are closer to the customer and tend to form personal and lasting bonds with their customer base.
- Competition and diversity lead to more choices. A multitude of small businesses, each selecting products based on the needs of their local customers and not on a national sales plan guarantees a much broader range of product choices.
- Local business has a lighter environmental impact. Shopping at locally owned businesses is more energy efficient, requiring shorter travel distances. Local businesses also make more local purchases, thus reducing the carbon footprint of goods sold.
- Public benefits far outweigh public costs. Local businesses require comparatively little infrastructure investment and make more efficient use of public services than most "big box" stores or national chains.
- Local businesses encourage investment in the community. A growing body of economic research shows that entrepreneurs and skilled workers are more likely to settle in communities that preserve their one-of-a-kind businesses and distinctive character.
- Non-profits receive greater support. Non-profit organizations receive an average 350% great support from local business owners than they do from non-locally owned businesses.