Click above to see how to support YOUR local businesses!
Don’t Forget To Shop At A
Small Local Business This Saurday- 11/26
If millions of Americans each make
ONE SMALL PURCHASE
it will be huge! Check out the Shop Small Campaign
that American Express
is running right now!! Just type in your
zip code on their FB page and
you can get a list of local
businesses to support. These business owners
are the backbone of The American Dream.
Buy Local Aquidneck
Here on Aquidneck Island we are blessed with great natural beauty, a vibrant local economy made up of independent businesses, wonderful family farms, educational institutions and active community organizations.
Our mission is to educate Aquidneck citizens
to “Think and Buy Local” first.
“Local business owners are more likely to be socially connected and vested in our community.” – Balle
“Mom and Pop businesses keep $54.00 of every $100.00 spent in their store in the local economy, as opposed to $14.00 of every $100.00 from a big box retailer.” – Stacey Mitchell Hometown Advantage
Building a strong Buy Local Network encourages new independents to open up shop which brings jobs and revenues into the community.
Why The Retail Giant Walmart Is Still Unsustainable
Stacy Mitchell traces the dramatic growth of mega-retailers —from big boxes like Wal-Mart and Home Depot to chains like Starbucks and Old Navy—and the precipitous decline of independent businesses. Drawing on examples from virtually every state in the country, she unearths the extraordinary impact of these stores and the big-box mentality on everything from soaring gasoline consumption to rising poverty rates, failing family farms, and declining voting levels. Along the way, Mitchell exposes the shocking role government policy has played in the expansion of mega-retailers and builds a compelling case that communities composed of many small, locally owned businesses are healthier and more prosperous than those dominated by a few large chains.
Study Finds Local Businesses Key to Income Growth
The results of a new study suggest that the key to reversing the long-term trend of stagnating incomes in the U.S. lies in nurturing small, locally owned businesses and limiting further expansion and market consolidation by large corporations.
Economists Stephan Goetz and David Fleming, both affiliated with Pennsylvania State University and the Northeast Regional Center for Rural Development, conducted the study, “Does Local Firm Ownership Matter?“ It was published in the journal Economic Development Quarterly.
Goetz and Fleming analyzed 2,953 counties, including both rural and urban places, and found that those with a larger density of small, locally owned businesses experienced greater per capita income growth between 2000 and 2007. The presence of large, non-local businesses, meanwhile, had a negative effect on incomes.
“Even after we control for other economic growth determinants … the non-resident-owned medium and large firms consistently and statistically depress economic growth rates … The other major result is that resident-owned small firms have a statistically significant and relatively large positive effect” on income growth, the authors report. Small firms are defined as those with fewer than 100 employees and large firms as those with over 500 employees.
“Subject to the caveat that the 2000-2007 period was unique in American economic history, results presented are remarkably robust in terms of the positive link between small firms that are locally owned and per capita income growth. Medium and larger firms appear to have the opposite effect, especially when they are not locally owned. These include big boxes as well as other chain and nonchain operations that are owned by individuals who are not also residents of the community. Although these types of firms may offer opportunities for jobs, as well as job growth over time, they do so at the cost of reduced local economic growth, as measured by income. Small-sized firms owned by residents are optimal if the policy objective is to maximize income growth rates,” the authors conclude.
Stacy Mitchell is a senior researcher with the New Rules Project, where she directs initiatives on community banking and independent retail. She is the author of Big-Box Swindle and produces a popular monthly bulletin called the Hometown Advantage.