The human body’s health depends on a steady circulation of blood. A local community’s economic health depends on a steady circulation and recirculation of the same cash. If that blood leaves the community, the city suffers.
That’s what The New Economics Foundation’s researcher and author, David Boyle, said in a TIME Magazine piece on how buying local boosts an economy. David says that money spent locally, instead of at big box retailers, online, and non-local services, is the difference between a thriving community and ghost towns or clone towns.
The lifeblood of a community stays or leaves based on where consumers spend.
Stats to change how you see local:
The research group CivicEconomics.com has run 15 studies of 17 US cities over the past 10 years, to bring us these staggering statistics on how your money recirculates in your community.
- Local spending: 54% recirculates locally
- National chains: 21% recirculates locally
- Online spending: 2% recirculates locally
In short: spending local means the majority of your dollar is reinvested locally, but spending online or at a national chain ensures the profits leave your community never to return.
What's impacted? All your services:
- First Responders
- Libraries, Roads, and Infrastructure
Our goal is to make it easier to support your town without having to compromise on convenience or prices.
Our favorite local business owners shouldn't have to hang up their hats just because folks don't know about them. We want to band together with locals to make our hometowns prosper.
HOW DO I HELP SUPPORT LOCAL BUSINESSES?
Think twice about every purchase! Spend an extra 15 seconds looking for local choices – they're almost always available.
If you're in one of the cities Towny supports, then you can have hundreds of only local businesses at your fingertips by downloading the free Towny app.