You Can Improve the Economy of Our Communities by Shopping Local
Monday, November 04, 2019
November 30 is the 10th annual Small Business Saturday, a shopping holiday that encourages consumers to support small, local and independent businesses instead of spending money online or in big box stores.
In preparation for Small Business Saturday, the 18th Annual Holiday Stroll will take place on afternoon of Black Friday, November 29. Stores will be open from 3pm-9pm, offering holiday discounts and refreshments. See Santa and Mrs. Claus, baby reindeer and fireworks in the beautifully decorated downtown district. Following the holiday stroll, consumers are welcome back to local businesses on Saturday to finish holiday shopping and support the local economy.
The first Small Business Saturday, initiated by American Express, started in 2010. The goal was to counter the negative effects of the recession on small businesses and local economies.
Due to the way it benefited the economy, the Senate passed a resolution in support of
Small Business Saturday in 2011. Spending now tops an estimated $100 Billion spent at independent retailers and restaurants since Small Business Saturday inception in 2010. In 2018 alone, 104 million shoppers spent $17.8 billion dollars, according to a survey by Small Business Saturday Consumer Insights, produced by American Express and the National Federation of Independent Business (NFIB).
Small Businesses Make a Significant Economic Impact
Research has shown that independent businesses return triple the amount of money to local economies as their chain store competitors and almost 50 times more than an online mega retailer like Amazon. When you use a large online company, usually the only locally employed person involved in the transaction is the delivery driver, if they even reside locally. The convenience isn’t worth it. When consumers buy local, they put money right back into the pocket of the local economy and help keep taxes in check.
Consider the impact on local economies if more Americans made the effort to consciously buy from local businesses — not just during Small Business Saturday, but year round.
Reasons to Buy Local
- Small business purchases are powerful. They are an investment in a local entrepreneur’s dreams and a boost to the local economy.
- Small businesses pay local taxes and employ local people, which helps build local economies and provides more job openings for residents.
- Local business owners are neighbors, colleagues and friends. Supporting them helps build community and social capital.
- Small business owners statistically support more area nonprofits and causes than big box retailers because they have a more personal interest in the community.
- Small businesses provide a more personalized customer service and cater to each customer’s needs individually.
- Local businesses are more likely to have one-of-a-kind or handmade products that can’t be found at chain stores or big online retailers. Each gift given from a local retailer is unique.
- Buying from a local business is more sustainable. Small businesses typically have less of an impact on the environment (reduced packaging, fewer emissions from shipping, etc.).
- Shopping at Red Wing independent retailers encourages consumers to get out of the house and into the charming riverside town.
Join Us in Supporting Local Businesses on November 29th and 30th and Beyond
Red Wing Port Authority supports small businesses and recognizes their importance in our community. Need some tips on where to shop locally for the holidays? There are hundreds of local, independent retailers in our area selling everything from handmade jewelry to luxury linens. Check out the business directory on our website http://www.redwingportauthority.org/red-wing-port-authority.