Transcript

The "Buy Local" Boost

HOMETOWN ADVANTAGE How "Buy Local" Initiatives Boost "Buy local" and "local first" initiatives are gaining ground in neighborhoods around the country. Open And they're making a difference in the survival and success of independent businesses. Small Businesses Campaigning for "Buy Local" Many "buy local" campaigns around the country are operated The two most popular local business organizations are: by local business organizations. * American Independent Business Alliance * LOCAL BUSINESS ORGANIZATIONS IN AMERICA * Business Alliance for Local Living Economies * -40,000 -140 are members of The number of "buy local" campaigns has roughly independent businesses organizations doubled since 2005. Reasons To Buy Local Local businesses produce Supporting local businesses contributes to a community's Local businesses are more likely more income, jobs, and to use local banks, media to taxes for communities than advertise, and other services. character and economic diversity. big-box stores do. One-of-a-kind businesses are a distinctive part of the character of a community that buck the trend LOCALLY-OWNED STORE of homogenized big-box stores. $100/ $45 క కన్ stays in local economy spent Local businesses are more Supporting local businesses is BIG-BOX CHAIN STORE accountable to their own good for the environment. Locally communities. They're owned by owned businesses can make more local purchases, requiring less transportation of goods. people who live in the community and are more invested in the community's future. $100/$15 spent stays in local economy The "Buy Local" Boost REVENUE AWARENESS In spite of a tough economy, small businesses in communities with "buy local" initiatives saw stronger More people are aware of and seeking out independent businesses. A large majority of businesses report that public awareness of the benefits of supporting locally- owned businesses has increased over the last year. revenue gains in 2010 than those in communities without a "buy local" push. Among businesses in areas with an active Among businesses in areas with an active "buy local" campaign ... "buy local" campaign ... 55% 47% 68% 51% say it increased local media say it made city officials more say it improved the loyalty of their existing customers say it brought new customers to their business coverage of independent aware and supportive of businesses independent businesses WITH A "BUY LOCAL" CAMPAIGN PUBLIC AWARENESS OF THE BENEFITS OF SUPPORTING LOCAL BUSINESSES ↑5.6% 57% Average Change in Revenue in 2010 Revenue Increased 32% 11% 64% 24% 3% 8% Increased Stayed the same Decreased Not Sure No Revenue Change DOES LOCALLY-OWNED MATTER? Revenue Decreased Independent businesses owners believe the fact that businesses are locally-owned matters to customers. WITHOUT A "BUY LOCAL" CAMPAIGN ↑ 2.1% 48% Average Change in Revenue in 2010 Revenue Increased 41% 11% 33% 50% 11% 2% 4% It matters It only It matters Not sure It matters to some to most matters to to none Revenue Decreased No Revenue Change a few QuickBooks Online intuit. Sources: Business Week, Institute for Local Self Reliance, Civic Economics, American Independent Business Association, Buy Local Day olo

The "Buy Local" Boost

shared by kcatoto on Jan 24
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Many small businesses depend on the support of their local communities to be successful, which is why we developed a cash grants program for small businesses that are loved by their communities. (See ...

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Intuit

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Business
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