Consumer Law

Support the Small Businesses You Love

By Sam Glover

When the economy goes sour, big businesses get all the attention and government money. But I am far more concerned with keep my favorite coffee shop and restaurant open, and making sure my handyman stays in business. I could care less whether Bank of America goes bankrupt.

So I have made an effort to support those businesses during the economic downturn. Like most Americans, my family has cut back on spending, but we cut back less at the local businesses we love. You should, too. Wal-Mart and the Home Depot will be fine. Your favorite bar or bookstore may not.

According to The 3/50 Project, for every $100 you spend at independently-owned businesses, $68 stays in the community. If you spend that at a national chain like Wal-Mart or Target, only $43 stays home. If you spend it online, none of it does.

You should always support your favorite local, independently-owned businesses, but they need it now, especially.

The 3/50 Project

Full post as published by Caveat Emptor on September 02, 2009 (boomark / email).