Independent Business Alliance, 48% of each purchase at local businesses was recirculated locally, compared to less than 14% of purchases at chain stores. Small, independent stores return more than three times as much money per dollar of sales to the local economy than chain competitors. This means shopping at independent retailers creates more revenue for local businesses and more local jobs. Comparatively, shopping online from large retailers located elsewhere creates almost no local economic benefit. “When you shop locally, you’re not just supporting a business, you’re giving back to the community.” - Serena Branson
As Medford continues to evolve, there are more opportunities for small businesses. For McManus and DMA, education is a key component of what comes next. “We want to educate business owners and let them know there is support and programs available to them,” he said. Additionally, hosting more events downtown has already helped immensely. It has created excitement among the merchants and locals. “As DMA grows, our ability to provide merchants with programs and events is a significant focus of our future efforts. Part of seeing our downtown as a destination is by supporting small businesses,” said McManus. By purchasing local goods and supporting independent retailers, money stays in the community and has a greater economic impact. This leads to job creation, and a positive economic impact throughout the community. “When you shop locally, you’re not just supporting a business, you’re giving back to the community,” said Branson. “You’re allowing that business to support other businesses and their families.” n
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December 2022 | The Business Review
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