The following comes from the Institute for Local Self-Reliance, a national nonprofit organization working to strengthen independent businesses and local economies, and is reprinted here with permission.
Top 10 Reasons to Support Locally Owned Businesses
By Stacy Mitchell
1. Local Character and Prosperity
In an increasingly homogenized world, communities that preserve their one-‐of-‐a-‐kind businesses and distinctive character have an economic advantage.
2. Community Well‐Being
Locally owned businesses build strong communities by sustaining vibrant town centers, linking neighbors in a web of economic and social relationships, and contributing to local causes.
3. Local Decision‐Making
Local ownership ensures that important decisions are made locally by people who live in the community and who will feel the impacts of those decisions.
4. Keeping Dollars in the Local Economy
Compared to chain stores, locally owned businesses recycle a much larger share of their revenue back into the local economy, enriching the whole community.
5. Job and Wages
Locally owned businesses create more jobs locally and, in some sectors, provide better wages and benefits than chains do.
Entrepreneurship fuels America’s economic innovation and prosperity, and serves as a key means for families to move out of low-‐wage jobs and into the middle class.
7. Public Benefits and Costs
Local stores in town centers require comparatively little infrastructure and make more efficient use of public services relative to big box stores and strip shopping malls.
8. Environmental Sustainability
Local stores help to sustain vibrant, compact, walkable town centers-‐which in turn are essential to reducing sprawl, automobile use, habitat loss, and air and water pollution.
A marketplace of tens of thousands of small businesses is the best way to ensure innovation and low prices over the long-‐term.
10. Product Diversity
A multitude of small businesses, each selecting products based, not on a national sales plan, but on their own interests and the needs of their local customers, guarantees a much broader range of product choices.
We always see businesses posting or displaying signs to “SupportLocal”, but how many of these businesses actually support other local businesses or organizations? Each Friday we will share a business that we know truly supports other local businesses and/or organizations.
If you know of a local business that should be on this list, email us at firstname.lastname@example.org and let us know why. We encourage everyone to visit the businesses on this list.
- Freedom Federal Credit Union
- Towne Grill & Pub
- McComas Funeral Homes
- Harford Mutual
- Four Seasons Nursery & Landscape Services
- APG Federal Credit Union
- Jones Junction
- Saxon’s Diamond Centers
- Harford Bank