Originally Published on March 21, 2016
Our local independent businesses are the backbone of our economy. They provide the majority of business jobs while accounting for the biggest share of sales in the county.
Additionally, they help to bind our communities together. Locally owned businesses retain their profits in the community and are more likely to purchase businesses inputs and professional services from other community businesses. Therefore, fewer dollars leak out of the local economy.
Local businesses will also tend to support local causes while national businesses to tend to make charitable donations to national organizations and in the communities surrounding their distant headquarters.
There are numerous studies that have proven unequivocally that local businesses provide a superior return over national chains.
For example, a study from the Maine Center for Economic Policy concluded that $100 spent at a locally-owned business generates an additional $60 in local impact.
That same $100 spent at a national chain-store generates only an additional $33 in local impact.
This is 78 percent greater return to the local economy by local business activity.
The businesses are already there, let’s do our best to support them.
— Mark Marcoplos
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