Support Your Community
The average Main Street has been hit hard during the economic crunch of the past six-plus years. Signs of demise dot the streetscapes: going out of business, liquidation, closed for good. These sad messages reflect the struggle that many independently owned enterprises have experienced.
There are a number of factors at play, in addition to the economic downturn:
The rise of online shopping. According to InternetRetailer.com, 162 million U.S. consumers shopped online in 2012. It is projected that by 2016, online shoppers will spend $327 billion, an increase of 62% over 2011. How can goods that are shipped to consumers contribute to a local economy?
Growing post-consumerism or anti-consumerism. Ideologies that discourage continual growth in purchasing and consumption of material possessions. Ethical, environmental, and social concerns bolster this trend. Consumers want to spend wisely and ethically; businesses that pay attention can benefit, supporting those consumers through ethical practices and sourcing.
Growth of "big box" stores and national chains. Consumers may be drawn to bargains (real or perceived). However, studies show that locally owned businesses provide more jobs and pump more money back into their surroundings than nationally owned chains. In 2011, the Maine Center for Economic Policy found that, in Portland, Maine, "every $100 spent at locally owned businesses contributes an additional $58 to the local economy. By comparison, $100 spent at a chain store in Portland yields just $33 in local economic impact. If residents were to shift 10 percent of their spending from chains to locally owned businesses, it would generate $127 million in additional local economic activity and 874 new jobs."
What happens when we lose local, independent enterprises? Vacant storefronts can communicate decay and insecurity. Main streets and downtowns lose collective vitality and begin to unravel.
Enter The 3/50 Project, brainchild of Cinda Baxter, a retail consultant, professional speaker, and blogger. The program's call to action is "Pick 3. Spend 50. Save your local economy." It is simple:
Pick three independently owned businesses in your community that you would hate to lose and shop there each month. Take the opportunity to get to know the owners and staff, let them know that you appreciate what they provide.
Spend $50.00 a month in locally owned stores.
Statistics show that for every $100.00 spent in locally owned independent stores, $68.00 returns to the community through taxes, payroll, and other expenditures. If you spend that in a national chain, only $43.00 stays here. Spend it online and nothing comes home.
Brick and mortar businesses run by energetic entrepreneurs built the foundation of our economy. Independently owned local stores, restaurants and services are a big part of the American Dream, representing our heritage and values of independence, initiative, and innovation. By committing to The 3/50 Program, consumers exercise choices that can sustain the health of our local economies. Visit www.the350project.net to see how you can help make a difference.
