We generally like to associate the word businesses with the name brand stores we shop at such as Walmart, Kohl’s, Victoria Secret, and Nike. If true though, then what do we associate our local small businesses under? There are many unknown businesses in this world due to their small size and that they are geographically located in one small spot somewhere the world. We tend to lose track of how important these small businesses are to our community and the citizens who live there. Support from local customers is essential to a strong community and its small businesses. There are many important reasons in which to support our local small businesses such as money coming back into the community, increasing local employment, and development of
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An article written by Michael Shuman helps to further explain where our money is really going and whether is it helping our local communities. In this article Shuman said, “Every dollar spent at local businesses generates two to four times more economic benefits measured in income, wealth, jobs, and tax revenue than a dollar spent at a globally owned business.” He continues on to explain that because locally owned businesses spend more money locally, they are pumping up the local economy which can also be called a multiplier. Due to today’s securities laws, many people looking to invest in small businesses are unable to, unless the business is willing to spend $50,000- $100,000 on lawyers to prepare for public offerings. As you could guess many small businesses are not very willing to pay that much money in hopes that they find an investor to help them build their business (Shuman). In another article by Ashleigh Buchanan, she explains a survey done by keepitlocalok.com, the survey found that of every one hundred dollars spent locally, seventy-three of it remains in the economy while twenty-seven leaves. Though it leaves, it is still better than the fifty-seven dollars that leave when one hundred dollars is spent at a non-local businesses (Buchanan). It is true that many small businesses invest back into their community, but it is also true that some large companies invest back …show more content…
As the economy grows many new small businesses pop up around the nation. They’re constantly relying on help from communities to make it against larger businesses looking to overtake all small businesses. You’ve heard of Black Friday, and Cyber Monday. These holidays promote shopping at stores for great deals on a wide variety of products. There is also a holiday called Small Business Saturday which promotes to all customers to support their local businesses. By shopping and purchasing products at the stores on not just that day but every day (Mills).Support from local customers is essential for communities and small businesses to prosper as a whole. Though large companies are willing to put a lot of money back into a community and create thousands of jobs when moving to an area, it is still better for customers to support local small businesses because they are essentially the back bone of communities and are more willing to give more money back to the community towards actual needs of the community. I believe that the government should make it easier for investors to invest in small businesses in order to improve the well-being of communities around the nation. This in the end will positively help the nation’s economy as a whole and our whole
An article written by Michael Shuman helps to further explain where our money is really going and whether is it helping our local communities. In this article Shuman said, “Every dollar spent at local businesses generates two to four times more economic benefits measured in income, wealth, jobs, and tax revenue than a dollar spent at a globally owned business.” He continues on to explain that because locally owned businesses spend more money locally, they are pumping up the local economy which can also be called a multiplier. Due to today’s securities laws, many people looking to invest in small businesses are unable to, unless the business is willing to spend $50,000- $100,000 on lawyers to prepare for public offerings. As you could guess many small businesses are not very willing to pay that much money in hopes that they find an investor to help them build their business (Shuman). In another article by Ashleigh Buchanan, she explains a survey done by keepitlocalok.com, the survey found that of every one hundred dollars spent locally, seventy-three of it remains in the economy while twenty-seven leaves. Though it leaves, it is still better than the fifty-seven dollars that leave when one hundred dollars is spent at a non-local businesses (Buchanan). It is true that many small businesses invest back into their community, but it is also true that some large companies invest back …show more content…
As the economy grows many new small businesses pop up around the nation. They’re constantly relying on help from communities to make it against larger businesses looking to overtake all small businesses. You’ve heard of Black Friday, and Cyber Monday. These holidays promote shopping at stores for great deals on a wide variety of products. There is also a holiday called Small Business Saturday which promotes to all customers to support their local businesses. By shopping and purchasing products at the stores on not just that day but every day (Mills).Support from local customers is essential for communities and small businesses to prosper as a whole. Though large companies are willing to put a lot of money back into a community and create thousands of jobs when moving to an area, it is still better for customers to support local small businesses because they are essentially the back bone of communities and are more willing to give more money back to the community towards actual needs of the community. I believe that the government should make it easier for investors to invest in small businesses in order to improve the well-being of communities around the nation. This in the end will positively help the nation’s economy as a whole and our whole