Here are just a few reasons to shop local.
According to the economic analysis firm Civics Economics, for every $100 spent at a locally-owned business, $68 returns to the community, while only $43 out of every $100 spent at big box retailers and global chains goes back to the community. The $68 filters back into the community through taxes, payroll, and other expenditures, going to support parks, education, and other local businesses. If consumers shop online, nothing goes to the community.
According to the American Independent Business Alliance, money spent at local retailers has a positive impact on the community of up to 5 times that of money spent at nationwide chains. This is because the money circulates through a variety of local hands, having a larger beneficial ripple effect on the community.
Other studies also have dramatic findings. A study of a community in Michigan by the organization Local First found that if consumers spent 10 percent more at local stores and businesses, it would create $140 million in new economic activity, 1,600 new jobs, and $50 million worth of new wages.
Shopping local also reduces environmental impact by requiring less transportation of goods. Small, locally owned businesses are the largest employers in the United States, accounting for more than half of all those employed. Also, local business owners donate more to local charities than big business owners. A study of a Maine community conducted by the Institute for Local Self-Reliance found that for every $1 million in sales in 2002, a small business donated $4,000 to local charities, compared to Wal-Mart, who donated $1,000 for every $1 million in sales.
Suffolk Jewelry & Pawnbrokers is a locally owned business that has been in the area since 1910. The store caters to regulars, is staffed with local, experienced personnel, and gives back to the community. Suffolk provides funding and other support to the local summer basketball league, several area churches, and numerous nonprofit organizations.
Discover the benefits of shopping local. Come into Suffolk Jewelry & Pawnbrokers today.