Locally-owned businesses return about 80% of each dollar to their community. And each dollar spent at a local business will return up to five times that amount within your community through city taxes, employees’ wages, and purchases of materials, supplies and services at other independent businesses.
Chains and franchises, on the other hand, contribute roughly 40%, and as little as 20% of sales back to your community. And many big boxes, such as Walmart or Home Depot, are given tax-incentives by local governments—costing you far more than the discounted price you think you’re paying.
Keep reading via Elephant Journal
Photo Courtesy of Local Works: Examining the impact of Local Business on the West Michigan Economy via Elephant Journal.
Chains and franchises, on the other hand, contribute roughly 40%, and as little as 20% of sales back to your community. And many big boxes, such as Walmart or Home Depot, are given tax-incentives by local governments—costing you far more than the discounted price you think you’re paying.
Keep reading via Elephant Journal
Photo Courtesy of Local Works: Examining the impact of Local Business on the West Michigan Economy via Elephant Journal.
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