Since 1963, the president of the United States has proclaimed National Small Business Week to recognize the contributions of small businesses to the economic well-being of America. May 16 to 20 is the week designated for 2011.
The more than 27.2 million small businesses are major contributors to the strength of the American economy. More than half of Americans either own or work for a small business. They also create 60 to 80 percent of new jobs in the country. Small businesses drive innovation, create 21st century jobs and increase U.S. competitiveness.
Geneva’s award-winning downtown boasts more than 140 specialty shops and restaurants—also known as small businesses—offering clothing, home décor, jewelry, antiques, art and more, all within walking distance. Still need some convincing? Here are the top five reasons to support locally owned businesses.
1. Buying local creates jobs
Half of all employees in the U.S. work for small business. Furthermore, small businesses create 60 percent of all new jobs. Buy local, create a local job.
2. Small business fosters community
A community is a group of people who share some commonality. When a downtown has a bustling small-business district, it is usually said there is a strong community there.
By buying local and supporting your neighborhood small businesses, you are fostering a strong community in your community.
3. Buying local keeps the dream alive
A small business is someone's dream. By supporting small business, you are allowing someone to live the dream another day. Many of our stores and restaurants are locally owned. Meet the owners as they give helpful advice with a smile and assist in finding that unique gift.
4. Buying local boosts your local economy and supports your community
There is an economic ripple effect that occurs when you support a small business.
Shopping locally helps support your community. Studies show that for every $100 spent in a locally owned independent store, $68 returns to the community through taxes, payroll, and other expenditures. Your purchases at local stores keep businesses going, and keep jobs in our community. These local businesses are the ones who contribute to chamber festivals, fund local fundraisers, and sponsor neighborhood sports teams.
Buying local creates an economic cycle that helps everyone.