Why Supporting Local Business Benefits Everyone

AN INSIDERS LOOK AT THE SHOP LOCAL MOVEMENt– and why it matters to you.

BY SARAH BISHOP

Did you know that the growth and prosperity of Buffalo is directly dependent on you? Believe it or not, it’s true -- the decisions you make today greatly impact your city’s tomorrow.

     For every dollar spent at a local, independent business,generally three times more money is re-spent in the local economy than if you shop at a national chain. That equates to more than 68¢, versus 43¢ spent at a chain, that remains right here in Buffalo. 

     How is this possible? Why does it happen? Local businesses purchase more products and services from other local vendors, support more local charities and civic institutions, pay more taxes and simply have a more vested interest in seeing their community succeed and its residents prosper.
     Thus, money brought into local, independent businesses is recycled back into Buffalo, which minimizes leakage, secures jobs, stabilizes our economy and even goes so far as to provide the means and the incentives to protect the environment and to build the relationships of mutual trust and responsibility. In short, local business owners are keenly aware of the fact that the greatest profit does not necessarily equate to the best economics.
     The positive impact on our city and its communities via buying local and independent are both economic and human-scale in nature. It’s simple really -- the more support we give to community-based businesses, the more we all benefit.

     With retail comprising seven percent of the U.S. economy, according to the Business Alliance for Local Living Economies (BALLE), local shoppers have a significant opportunity to use their purchasing power to support their fellow Buffalonians while helping to produce a healthy independent retail sector that can, in turn, be influential in preserving our communities unique identity and sense of place.
     Imagine: that gorgeous painting hanging in your living room is from an artist somewhere in your figurative backyard; those delicious vegetables in your salad are from a Western New York farm; the owner of the salon where you got your great haircut might be your next-door neighbor; and on and on it goes.

     In order for Buffalo to become a fully sustainable community, all of us together must become advocates for locally-owned, independent businesses. Wondering where to start? As Executive Director of Buffalo First!, we are doing all that we can to increase awareness about the personal and community benefits of living local.
     From our All-Local Coupon Book to monthly events and community business mixers, to the blog and online business directory, Buffalo First! can give you the resources you need to join the local movement.
     Every day, we are afforded the opportunity to vote with our wallets. By ‘casting our ballots,’ so to speak, in favor of local business, we’re speaking out for a more socially conscious, eco-friendly and financially sustainable economy.
     At Buffalo First we are also assisting the businesses themselves. Besides promotion through the coupon book and business directory, Buffalo First! lobbies for legislation that will benefit local businesses and business owners, teaches owners how they can take small steps to help the community and offers the support to make such changes.
     One of our largest efforts is B-Corporation legislation. A B-Corp is a new kind of company that works on a triple bottom line of environmental sustainability, social benefits and monetary profit. The benefits are too numerous to go into in-depth in this story, but, simply, B-Corp status gives business owners more leeway to make changes that will benefit the environment and surrounding community without having to worry about how those changes will affect shareholders and profits. The New York State government has, for some time now, been aware of and working for a bill that would allow businesses to obtain B-Corp status.

     Whether you’re just joining the local movement or have been involved for years, Buffalo First! welcomes your questions, participation, expertise and enthusiasm.!

Sarah Bishop is Executive Director of Buffalo First!, a five-year old nonprofit organization that offers a support network to local businesses and strives to educate consumers and business owners about the benefits of a living, local economy. For more information, visit Buffalo First! at BuffaloFirst.org.On Facebook (Facebook.com/BuffaloFirst) or on Twitter(@BuffaloFirst)