Keep Trade Local
Why Should You Support Local Business?
“One of the great things about the city of Birmingham is the opportunity we have to support local business and help keep financial resources in the area instead of national corporate headquarters”.
Quality of Life
Moo Fresh make an enormous and positive contribution to the quality of life in our community. Local businesses create more jobs, and they boost the local economy, which in turn improves our schools, our parks, and the quality of life in our town. Most importantly, local businesses invest in our community. If you look behind the scenes at any local activity that contributes to the common well being of the community, you are likely to find a local business person (i.e. Moo Fresh, Sutton Carpet Cleaning, Chase Farm Shop etc,) giving their time, products, services and often their money, to the common good. Local business people are the unsung heroes of our community. They are the leaders, the ambitious, hard working people who have ideas and act on them.
Local Business Pounds Stay Local
Small and locally owned businesses are an important part of an economy that provide for everyone. By keeping money local, we can take charge of our economy. Any time a pound is spent, it generates a pound’s worth of economic activity and employment. If the same pound is spent several times, then it generates several pounds worth of employment, behaving as if it were several pounds, not just one. Every pound has the potential to generate benefits several times its face value.
If you give your cash to a large national company, then that money leaves our community and we benefit from it very little. If you spend your money at a locally owned business, then that money is more likely to be spent again and again in the local economy. In a recent economic analysis it was found that locally owned businesses generate three times the economic impact of multi national retailers on equal sales. They attributed the difference to the following reasons:
Local businesses keep their profits in the local economy
In terms of money, they found that for every £100 spent at a national retailer only £13 stayed in the local economy. If that same £100 was spent at a locally owned business more than £45 stayed in the local economy. Simply put, the cash you spend with a local business goes a whole lot farther in the local economy than money spent with the large national corporations. Why should you care? Because it’s the local business you call when you need a sponsor for your child’s sports team. It’s the local business that you call when you need a donation for your fundraising.
What we are doing is increasing the power local business owners have, supporting our local economies, and decreasing the power of huge corporations. You may not think it is important but every little bit makes a huge difference.
Local businesses spend a greater percentage of their money on local labour.