09/27/2024
Why Supporting Local Businesses Matters for Our Community
Did you know that where you spend your money can have a huge impact on our local economy and community? 🤔 Let’s break it down with two examples:
1️⃣ Buying from Local Businesses:
When you shop with local vendors, your dollars stay closer to home. Local businesses reinvest in our community by:
- Purchasing goods and services from other local suppliers 🏪
- Hiring local employees who also spend their income locally 👩💼
- Contributing to local taxes like property and sales taxes, which fund our schools, roads, and public services 🏫🛣️
- Sponsoring local events and causes, helping the community thrive 🎉
This creates a "local multiplier effect," where your money circulates and benefits everyone.
2️⃣ Buying from International Companies:
On the other hand, when you buy from large international companies, much of the money flows out of our community to corporate headquarters located out of state or abroad. While some sales taxes are collected, these companies often:
- Spend profits elsewhere 🌍
- Contribute less to local property or business taxes 🏢
- Employ fewer local workers, reducing local wages and income tax contributions 💼
Supporting local businesses helps boost the local economy, improves public services, and creates jobs right here in our neighborhood! 💪
