Shop Local: What It Does for Your CommunityBy Dana Kinde |
We keep hearing “support local businesses” and “shop local,” but what does that really mean and why is it critical during times like we’re experiencing right now? When you spend $100 at a local business, $68 stays in the local economy. However, when you spend $100 at a chain business, only $43 stays in the local economy. * Spending locally instead of online reinvests your sales taxes in your community, which means more money to make improvements to community infrastructure and amenities, as well as greater choice because local businesses buy for the unique needs of their market. The reality is that the full financial impact these businesses will be facing hasn’t been felt yet. Right now, when we can’t go out and shop in most local stores, there are other ways to show that we’re in this together. We can order online for pick up, purchase gift cards to be used at a later date, or consider donating to a business in need. Many businesses that didn’t offer shipping or even delivery recognize that for now, it makes sense that they do. I have seen and heard of so many incredible stories of businesses being flexible to meet the demands of their customers. It has been fun to see what our amazing entrepreneurs are coming up with! Take this opportunity to think outside the box and get creative in supporting local. Whether you are in Minnesota, Florida, Georgia or California, there are local businesses that need our help TODAY, so ask yourself, “What can I do?” I have too many favorites to name individually but can say they include restaurants, a hardware store that has everything you could think of, local boutiques, and entertainment venues. Check out the Bank Local Shop Local page on Village Bank’s website for a few of my favorites. What is and what will always be near and dear to my heart are our small business owners. Without them and the work they do, we wouldn’t be as fortunate to live in amazing communities full of opportunities! Especially in times like this, it’s easy for our friends, neighbors, businesses, and communities to feel removed or isolated from each other as many of us are working remotely. While the saying “we’re in this together” may feel overused, it’s more true today than ever. Supporting the community and each other while remaining positive are actions to live by and are at the heart of my interactions. Thank you to everyone who is working hard day in and day out to help support each other in these uncertain times. If you are a small business owner looking for assistance with loan programs, please reach out to me today. This too shall pass and we’ll all be better for it. Better days are ahead, so let’s make the most of today by supporting local and remembering that we are Family-Built, Community Strong! *Source: The Andersonville Study of Retail Economics
More about our Bank Local Shop Local initiative. |