Local Business and the New Economy

Elsii FariaCommunity

Supporting local business is gaining popularity but it’s even more important than you might think.

“…buying close to home may be more than a feel-good, it’s-worth-paying-more-for-local matter. A number of researchers and organizations are taking a closer look at how money flows, and what they’re finding shows the profound economic impact of keeping money in town—and how the fate of many communities around the nation and the world increasingly depend on it.” –www.time.com

The economy is like a circulatory system. When you buy local, money stays in the community and is twice as likely to re-circulate rapidly within that community – this benefits many individuals and keeps the local economy alive and vital. When money leaks out of a community, it is a rupture to the circulatory system and the local economy is weakened.

Although it may seem more cost-effective to buy from big box stores, the value of buying local should be considered. When the economy within a community is strengthened, local employment grows, relationships develop and regional resilience and independence are fortified – all elements that create high value communities.