PennyGem’s Chloe Hurst helps you to shop small and support local businesses.
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LearningTranscript
00:00The pandemic can have a silver lining for local business owners, but they require your
00:08help. In addition to the friendly neighborhood customer service and the contribution to the
00:12unique character of your community, here's why you should shop locally and support local businesses.
00:17The Institute of Local Self-Reliance reports, locally owned businesses build strong communities
00:23and in an otherwise homogenized world, one-of-a-kind businesses have distinct character
00:28in addition to their economic advantage. Locally owned businesses help to sustain vibrant town
00:33centers, create a web of economic and social relationships and contribute to local causes.
00:39It's likely your one-stop local shop is a friendly walk away in a centralized location
00:44and has significant environmental benefits than your out-of-town mall. The local good reports
00:49you'll be contributing to less pollution, congestion and habitat loss. Local shops hire
00:55locally and help to establish a network of community. Differing from the corporate hiring
01:00world, Market Watch reports, hiring locally contributes to the tangible growth of the company,
01:05circulating the benefits right back into the community. According to the Small Business
01:09Administration, when you spend $100 at a small business, $48 of it stays in the community,
01:15as opposed to the $14 that stays at a national retailer or corporate enterprise.
01:21The local good says locally owned businesses also purchase from other local businesses,
01:26service providers and farms. You will help other businesses grow as well as the local tax base.
01:32Believe it or not, you matter more, so start exerting influence with your purchasing
01:37and start seeing how your business will respond to you.