Independently owned shops not only give your neighborhood its unique character, they also support the local economy in a myriad of ways. That's the premise behind small business advocacy campaigns like The 3/50 Project and American Express' Small Business Saturday.
Did you know that:
- A locally-owned shop returns 68% of its revenues to the local economy, whereas a national chain returns only 43%?
- Locally-owned shops employ more local residents and pay them substantially higher wages, in addition to having a broader range of jobs available?
- Local businesses buy more than twice as much from other local businesses, and also are more likely to use local banks and other service providers?
- Local businesses contribute more to the community through charitable giving, school funding, and other non-profit organizations?
And now, according to a recent study conducted by Civics Economics, there's one more reason to support small businesses: they help raise your property values.
The Small Business Saturday Shop Local event is November 26. When you register your American Express card in advance and shop at an independently owned small business on Small Business Saturday, American Express will reimburse you with a $25 statement credit! You can register your American Express card here.
Not only are you much more likely to discover some unexpected wonder or unique handmade treasure at an independent small business, but every dollar spent in a locally-owned shop is a vote for the health and welfare of your community.
Everyone wins when you "Shop SMALL" on Small Business Saturday!