Top 10 Reasons to Support Locally Owned Businesses
Teamster Advantage is the way our Union supports local business — helping to create a sustainable, healthy, and resilient economy. Download the official Teamster Advantage app on your phone’s app store or visit Teamsters1932.org/Advantage to start supporting local business with us.
Why should you support locally owned businesses? The following list comes from the Institute for Local Self-Reliance (www.ilsr.org), a national nonprofit organization working to strengthen independent businesses and local economies.
1. Local Character and Prosperity
In an increasingly homogenized world, communities that preserve their one-of-a-kind businesses and distinctive character have an economic advantage.
2. Community Well-Being
Locally owned businesses build strong communities by sustaining vibrant town centers, linking neighbors in a web of economic and social relationships, and contributing to local causes.
3. Local Decision-Making
Local ownership ensures that important decisions are made locally by people who live in the community and who will feel the impacts of those decisions.
4. Keeping Dollars in the Local Economy
Compared to chain stores, locally owned businesses recycle a much larger share of their revenue back into the local economy, enriching the whole community.
5. Job and Wages
Locally owned businesses create more jobs locally and, in some sectors, provide better wages and benefits than chains do.
6. Entrepreneurship
Entrepreneurship fuels America’s economic innovation and prosperity and serves as a key means for families to move out of low-wage jobs and into the middle class.
7. Public Benefits and Costs
Local stores in town centers require comparatively little infrastructure and make more efficient use of public services relative to big box stores and strip shopping malls.
8. Environmental Sustainability
Local stores help to sustain vibrant, compact, walkable town centers-which, in turn, are essential to reducing sprawl, automobile use, habitat loss, and air and water pollution.
9. Competition
A marketplace of tens of thousands of small businesses is the best way to ensure innovation and low prices over the long-term.
10. Product Diversity
A multitude of small businesses, each selecting products based, not on a national sales plan, but on their own interests and the needs of their local customers, guarantees a much broader range of product choices.