Top 10 Reasons to Support Locally Owned Businesses | Institute for Local Self-Reliance

Top 10 Reasons to Support Locally Owned Businesses| Written by Stacy Mitchell

1.  Local Character and ProsperityIn an increasingly homogenized world, communities that preserve their one-of-a-kind businesses and distinctive character have an economic advantage.2.  Community Well-BeingLocally owned businesses build strong communities by sustaining vibrant town centers, linking neighbors in a web of economic and social relationships, and contributing to local causes.3. Local Decision-MakingLocal ownership ensures that important decisions are made locally by people who live in the community and who will feel the impacts of those decisions.4.  Keeping Dollars in the Local EconomyCompared to chain stores, locally owned businesses recycle a much larger share of their revenue back into the local economy, enriching the whole community.5.  Job and WagesLocally owned businesses create more jobs locally and, in some sectors, provide better wages and benefits than chains do.6.  EntrepreneurshipEntrepreneurship fuels America’s economic innovation and prosperity, and serves as a key means for families to move out of low-wage jobs and into the middle class.7.  Public Benefits and CostsLocal stores in town centers require comparatively little infrastructure and make more efficient use of public services relative to big box stores and strip shopping malls.8.  Environmental SustainabilityLocal stores help to sustain vibrant, compact, walkable town centers-which in turn are essential to reducing sprawl, automobile use, habitat loss, and air and water pollution.9.  CompetitionA marketplace of tens of thousands of small businesses is the best way to ensure innovation and low prices over the long-term.10.  Product DiversityA multitude of small businesses, each selecting products based, not on a national sales plan, but on their own interests and the needs of their local customers, guarantees a much broader range of product choices.© Institute for Local Self-Reliance.Reprints: If you’d like to reprint this, you may request permission to do so by emailing us. Please identify yourself, your business or organization, and your location, and describe how you intend to use the 10 reasons.TAGS: benefits of independent business

via Top 10 Reasons to Support Locally Owned Businesses | Institute for Local Self-Reliance.

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