THE IMPACT OF YOUR DOLLAR

When you spend your money with local companies it actually brings a huge positive benefit to you and your community. When you spend your money with large box stores it can have an adverse effect.

Your decision to shop with a local company or a national box store has a huge impact on our community. Every dollar that you spend with a locally owned, independent business has an enormous impact on the local economy. In fact, when you spend a dollar with a locally owned business it will have three times the economic benefit to your community over that same dollar spent with a chain retailer. Why? Because beyond the immediate effect of payroll, independent (or locally owned businesses) spend their revenues right here in our community; they bank locally, advertise in local media, hire local accountants, attorneys and graphic designers. They buy houses, cars, furniture and landscaping locally and they spend their monies with local restaurants and other local merchants. Fortunately, much of that money regenerates right back into our pockets when you spend it with local businesses.

On the flip side it is estimated that well over 85% of the average chain retailer’s revenue leaves our community every single day. That means for every dollar that you spend with the large national companies, only 15 cents stays here to be re-circulated and benefit our community. This has other economic impacts as well. A good example is our tax base. When revenue leaves our local community or our state then we as consumers will be responsible for the higher tax burdens for local and state taxes both. So where does your money go when you spend it with the chain retailers and box stores? It typically flows out of our state and back to corporate headquarters. This isn’t to say that big box retailers do not have an impact on the local economy because they do. However it’s typically in the form of payroll only. The rest of their monies vanish c444 The rest of those monies in general vanish from our community.

COMMUNITY CHARACTER One More Big Advantage of Buying From Local Businesses Independent businesses are owned by your friends, your families and your neighbors. Those local business owners make their decisions based on the needs and interests of their customers, not by some formulaic concept of a distant corporate office. Our freedom of choice is seriously imperiled when a few buyers from national chains choose what reaches consumers. Locally owned, independent businesses offer original and unique products and services. This adds interest, diversity, and character to our communities. By shopping locally, you support the independent business owner’s creativity and ingenuity, and help create a more vibrant shopping experience.

Keep your money where your home is, shop dine and give locally!

Also remember, shopping locally does not mean that you should buy from someone that happens to have a store in our community. It means spending your hard earned money with local businesses. And don’t think that bigger is always better. The fact is that most often when you buy from a locally owned company you will get better service (especially after your purchase), better quality products and/or services and often even better prices. Often large companies will razzle, dazzle consumers into thinking that they offer better prices, service, products and quality simply because they’re “larger”. However, more and more consumers realize that this is simply a huge marketing ploy and far from the truth. HOW THE BOX STORES ARE HURTING YOU AND YOUR COMMUNITY A Box Store Opens, Businesses Close, Jobs Are Lost And Wages Go Down There are countless studies on the impact that companies like Wal-Mart and Costco (and many of the enormous chains) have on local businesses. Various studies show that every time one of these huge conglomerates open anywhere between 25 and 85 percent of the local businesses within a few miles end up folding. Related casualties include lost tax bases, higher quality products and services and higher paying jobs.

That some businesses, particularly small businesses, would close after a large retailer moves into the neighborhood is to be expected. But, as the researchers has proven; the closer a business was to these box retailers, the more likely it is to close. What’s worse is the impact these large chains have on jobs. A study published in 2008 in the Journal of Urban Economics examined about 3,000 Walmart store openings nationally and found that each store caused a net decline of about 150 jobs (as competing retailers downsized and closed) and lowered total wages paid to retail workers. According to a provisional study by David Neumark , Junfu Zhang and Stephen Ciccarella called “The Effects of Walmart on Local Labor Markets,” for every two jobs Walmart “creates,” three local jobs are destroyed. As a local citizen, consumer and business owner I am certainly an advocate for supporting locally owned businesses. I know that buying locally helps our local families; plus it makes our community stronger and much better off in many ways. So I say let’s work together. Let’s make our community better and stronger and whenever possible let’s buy our appliances, flowers, bicycle’s, furniture and everything else we can, locally.

Nate Zolman

Local Business Owner

Zolman's Tire And Auto Care

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