You hear many people say it “Shop Small”. The idea is to keep funds circulating in one’s home community for the benefit of those who live in the area. I have long been a proponent of supporting farmers, artisans, and shopping locally when it is possible. So I started wondering, what kind of impact does it really have and how many people are aware of the effect.
I dove into some research on the topic and while very optimistic, I was more than surprised as some of the statistics. Here is what turned up:
- Did you know that 48 percent of purchases at local independent businesses go right back into the community, compared to less than 14 percent of sales made at chain & big box stores? Wow, that is cool! This data came from the research firm Civic Economics.
- According to the Small Business Administration, large businesses have eliminated 4 million jobs since 1990, while small businesses have added 8 million jobs within that same time period.
- For every $10 million of sales at Amazon, 14 jobs are created. That same $10 million with a local company creates 57 jobs.
- Seventy-seven million Americans are employed by small businesses. Two out of every three private-sector jobs in the United States are in the small business community. According to the Small Business Administration, small businesses have created 66% of all new jobs since 1995.
- Last but not least, 77 million Americans are currently employed by small businesses.
So I hope this illustrates for you how important your patronage at any small business really is. Our success is tied heavily to local patronage and it is the seed from which we have grown. By buying local, no matter the product, your community is supported and empowered to improve and grow!