There are many studies that indicate that shopping locally has major economic benefits for your local community as evidenced by the chart. So when you spend $100 at a local business, on average 58% more of your money stays in your community compared to what would have happened if you spent that $100 at a multinational company based store.
Here are three good reasons to shop locally
- Local Economic Stimulus
When you purchase from locally-owned businesses more money is kept in the local community as locally-owned businesses often purchase from other local businesses, and trades and service providers. Therefore, spending your money at local businesses supports other local business which in turn stimulates the local economy.
- Local Businesses Support your Lifestyle
Anyone who has helped raise funds for a school or charitable organisation knows that it is significantly easier to source donations from locally owned businesses. When locally owned businesses donate to local charities, it is unnecessary to get approval from a head office in a capital city!
- The Majority of Jobs in Australia Are Provided By Local Businesses
Small local businesses are the largest employers in Australia, so supporting a local business helps to both retain and grow jobs in your community.
For seven other reasons how shopping locally just makes sense, visit the locals 4 locals blog.