Page 4 - ShopLocal.2016

4– Friday, December 16, 2016 – El Dorado NEWS-TIMES
Randal Curtman/News-Times
Downtown Shoppers: Local businesses are owned by people who live in the community and are less likely to leave, since they are more invested in the commu- nity’s future, according to experts.
Shop: Small businesses are largest employer nationally
Continued from Page 3
farms, which in turn strengthens the economic base of the community.
The website also notes that non-profit orga- nizations receive on average 250 percent more support from smaller business owners than they do from large businesses.
“When we say shop locally and keep your dol- lars at home, we are talking about supporting your neighbor, your friends, your community,” Dumas said. “So many of the big box stores take your money and it goes directly into an account in some bank in another city. When our small business owners make a profit that money stays here.”
According to the website, locally owned busi- nesses can make more local purchases requiring less transportation, and generally set up shop in town or city centers as opposed to developing on the fringe. This generally means contributing less to sprawl, congestion, habitat loss, and pol-
lution within a community.
Small local businesses are the largest employer
nationally, and in our community, provide the most jobs to residents. The website states that local businesses also often hire people with a better understanding of the products they are selling and take more time to get to know cus- tomers.
Finally, local businesses are owned by people who live in the community, are less likely to leave, and are more invested in the community’s future.
Local businesses in town centers, like El Dorado’s historic downtown, require compara- tively little infrastructure investment and make more efficient use of public services as com- pared to nationally-owned stores entering the community, according to the website.
According to the Institute for Local Self- Reliance’s website, ILSR.org, local businesses recirculate a greater share of every dollar in the local economy, as they create locally owned sup-
ply chains and invest in their employees. Studies show that locally owned businesses employ more people per unit of sales, and retain more employees during economic downturns, while big-box retailers decrease the number of
retail jobs in a region, according to ILSR. Studies also show that locally owned business- es are linked to higher income growth and lower levels of poverty, while big-box retailers, partic- ularly Wal-Mart, depress wages and benefits for
retail employees.
According to the ILSR website, “a community’s
level of social capital, civic engagement, and well-being is positively related to the share of its economy held by local businesses, while the presence of mega-retailers like Wal-Mart under- mines social capital and civic participation.”
The website also reports that “large retailers systemically tilt the playing field in their favor by
See LOCAL, Page 5