There’s a reason why “Buy Local” initiatives, like Dane Buy Local, are sprouting up all over the country. By supporting small, local businesses, you’re investing in your community and your economy, enabling both to thrive.
Small businesses aren’t just the backbone of local communities and economies. They form the backbone of our national economy. According to the U.S. Small Business Administration, small businesses pay 44 percent of total U.S. private payroll.Read More >>
Small businesses have generated 65 percent of net new jobs over the last 20 years, and more than half of all working Americans either own or work for a small business. Even so, half of new small businesses will not last more than five years, and only about two in 10 will reach 15 years. To improve these statistics, consumers have helped local businesses more than double their average revenue by participating in “Buy Local” initiatives – and a much larger share of that money stays in your community.
According to a 2011 study by the Maine Center for Economic Policy, researchers learned that every $100 spent at locally owned businesses contributes an additional $58 to the local economy, compared to just $33 in local economic impact from chain store purchases.
These local businesses help their local community and economy thrive through:
- Profits paid out to local business owners
- Wages paid to local employees
- Procurement of goods and services for both internal use and resale, which also reduces a company’s carbon footprint by minimizing transit time
- Charitable giving within the community
In fact, the April American Express Small Business Monitor survey shows that small business owners really do put their money where their mouth, or business, is located. 96 percent of those surveyed said that they are committed to supporting local communities, from donating to local causes and participating in community projects to, of course, shopping at independently owned local businesses.
All of these factors contribute to unique, local communities, a better quality of life, and a real sense of local pride. This is what really makes EZ Office Products so proud to be an independently owned, local business and sponsor of the Dane Buy Local movement.