Support Local Businesses: It's More Important Now More Than Ever. Here's Why
July 16, 2020
When purchases are made at locally owned businesses, significantly more money stays in a community. According to the U.S. Small Business Association and the U.S. Department of Labor as reported in this blog, the positive impacts of small, independent business on local economies include:
- For every $100 spent at local businesses, $68 stays in the community
- Small businesses have accounted for 65% of all new jobs over the last 17 years
- Local businesses use the services of other local businesses
You can help by shopping local. For example, you can order carry out from a local restaurant; purchase a gift at a local shop; visit a local nursery or hardware store for flowers or a new ladder; take your car to a local mechanic; or visit a local farmer’s market.
You can also participate in MSUFCU’s Eat Local Giveaway. This month, we’re highlighting locally owned and operated Black and LGBTQIA+ restaurants. When you order at any local restaurant from now until July 31, submit a photo of your meal (takeout bag counts!) in the comments of our Facebook page. You will be entered to win two $25 gift cards — one for you and one to pay it forward to someone else.
Where small businesses can find help