These studies document the positive economic impact of locally owned businesses, and how they contribute significantly more money to the local economy than do retail chains. We've also included a tool kit if you're ready to take action.
A new study from Local First of Grand Rapids, Michigan, reveals that a modest change in consumer behavior -- a 10 percent shift in market share to independent businesses from chain stores -- would result in 1,600 new jobs, $53 million in wages, and a $137 million economic impact to the area. By choosing to support locally owned businesses, individuals can help to create and retain jobs in their communities.
A Civic Economics study commissioned by Local First Arizona reveals that public procurement from a local supplier generates "dramatically greater local economic activity" than procurement from a chain business. "Procurement Matters: The Economic Impact of Local Suppliers" compared the local economic impact of Wist Office Products, a local supplier and LFA member, with Office Max Contract, a division of Office Max, after the state of Arizona dropped Wist from its stable of office suppliers.
The New Rules Project and the Preservation Trust of Vermont study on why local business matters and practical steps other communities can take to strengthen a homegrown economy, foster revitalization, and united independent businesses.