A 2008 study researched every county in the U.S. and found local entrepreneurship to have positive effects on income and poverty rates per capita.
The Baton Rouge community must recognize the benefits of local business and its positive implications on the economy and community. We need to begin thinking big and buying small.
Purchasing from local establishments yields a higher economic return rate than investing into large businesses whose funds are statistically less likely to be cycled back into the community. A Chicago study found that of every $100 spent in local business, an average of $68 stayed in the city compared to chain retailer’s $43.
When Baton Rouge consumers shop locally, they are not sending money toward multi-billion-dollar business owners. They are helping a local business hire another part-time worker or provide holiday bonuses for employees.
Baton Rouge-area grocers like Fresh Pickin’s Market or Southside Produce Market are far more likely to feel the immediate impact of local consumer’s support than large chain corporations like Walmart or Costco. Your business means much more to small grocers than it does to chains that make millions in profit each week.
Most people are willing to trade a slight rise in price for the assurance they are buying locally produced foods. Packaged Facts, a market research company, says nearly 50 percent of survey participants say they are willing to pay up to 10 percent more for local produce.
Shopping locally takes business away from mass corporations who are notorious for skimping on employee benefits and purchasing unethically produced goods to maintain their low prices. Consider helping a fellow neighbor rather than fattening the pockets of billionaire business owners.
Boosts in local spending often directly benefit the business’ employees and the local job market, whereas the wages of large chain employees rarely fluctuate. A small business is more likely to raise salaries and benefits for its employees as revenue increases.
A study conducted by the Canadian Union of Public Employees found 2.6 times more jobs are created in the retail and restaurant sectors when money is spent in local business.
Though shopping locally may not always be the most inexpensive option, the long-term benefits to the consumer, producer and local community far outweigh the immediate downfalls. Buying locally is an investment in the future of the Baton Rouge community and an investment in the local job market.
In a consumer-driven, quickly-expanding world, it is important to recognize there are options beyond the sea of mass markets flooding our everyday lives. Sometimes, buying smaller is better for the bigger picture.
Hannah Kleinpeter is a 20-year-old mass communication junior from Baton Rouge, Louisiana.
