The benefits of buying local initiatives are well documented in many studies.
These studies have show that by buying locally, communities are
- able to keep more dollars local
- stimulate jobs growth
- provide more viariety to consumers
- reduce the environmental impact of the goods and services purchased
- increase support to local non-profis and charitable organizations
These are just a few of the documented results campaigns like Buy Here. Live Here. We recommend the New Rules Project section of the Institute for Local Self-Reliance website for those interested in learning more. In particular, the reports for independant businesses. Here is a sample of what can be found.
Survey Finds “Buy Local” Message Benefitting Independent Businesses
For the fourth year in a row, a national survey of independent businesses has found that those in communities with an active "buy local" campaign have experienced markedly stronger revenue growth compared to those located in areas without such a campaign. Read more...
The Economic Impact of Locally Owned Businesses vs. Chains: A Case Study in Midcoast Maine
Three times as much money stays in the local economy when you buy goods and services from locally owned businesses instead of large chain stores, according to this analysis, which tracked the revenue and expenditures of eight locally owned businesses in Midcoast Maine and compared their economic impact with that of a large big-box retailer. Read more...
The Hometown Advantage: How To Defend Your Main Street Against Chain Stores … and Why It Matters
Published in 2000, The Hometown Advantage examines the impacts of chain retailers and provides a guide to reviving your community’s local economy. Read more...
Other studies of interest:
Does Local Firm Ownership Matter?
A data set for U.S. counties that includes residence status of firm owners is used to assess whether per capita density of locally owned businesses affects local economic growth, compared with nonlocal ownership. The results provide strong evidence that local ownership matters for economic growth but only in the small size category. Results are robust across rural and urban counties. Read more...
Buying Locally Pays Big Dividends for Maine’s Economy
A new study produced by the Maine Center for Economic Policy (MECEP) has found that, on a dollar-for-dollar basis, the local economic impact of independently owned businesses in Portland is significantly greater than that of national chains. Read more...
Local Works: Examining the Impact of Local Business on the West Michigan Economy
A study that found if local residents redirected 10 percent of their total spending from chains to locally owned businesses, this behavior would result in nearly $140 Million in new economic activity, over 1600 new jobs and over $50 Million in new wages. Read more...