Several studies have shown that the local purchase of two pumps to three times more money in your local economy that purchase of a chain store.
But it is not always practical or even possible to buy local. Take shoes for example. Does your city or state have a shoe factory? May be. But maybe not. It can not simply close the manufacturers that produce all the products you need, or local sites that carry them in a convenient place.
So how can you really make a difference?
According to the American Independent Business Alliance (AMIBA), companies are more labor such as restaurants and service providers tend to generate the largest "local economic multipliers." buying them is how you can really make an impact.
7 types of businesses that give you the most for your money local:
- local restaurants -Whether it's a mom and pop, a pizzeria and an upscale restaurant, locally owned dining room helps feed the local economy.
- locally grown and produced food -One of the most intensive industries workforce, local agriculture and food production is one of the most beneficial to businesses from which to buy local. Think farmers market on the grocery chain. (Bonus Added: You'll probably enjoy fresh products more nutritious.) Or search for locally grown products when shopping at a chain if a farmers market is not appropriate
- Service providers . -These Include accountants, veterinarians, lawyers and other professional service firms. These industries, while small, can create jobs in your area. They can range from the creation of two 10 to 50 jobs, but every little bit can add.
- Auto / mechanical services -That you need an oil change, tire rotation or repair, opting for a locally owned place will help stimulate the local economy.
- insurance from a local agent -Talk to your local ERIE Insurance agent . All ERIE agents are owners of small independent companies operating within local economies. Many have started their operations from scratch, and almost all give to their communities significantly. They are there to help you navigate difficult questions on insurance and make the best choices.
- local pharmacies, bookstores, florists and other retailers -Some of their profits can go to purchase products from non-local suppliers, but much less than the big chain stores .
- locally owned franchises reports -During AMIBA that franchises return less money to the local economy as a business from home, they always come back much more money to the local economy of a national chain (and they can help to create jobs).
Erie Insurance is a regional insurance company that is committed to supporting local entrepreneurship by selling insurance through independent agencies and providing insurance solutions requirements for small businesses. Learn more about erieinsurance.com
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