When you spend your money, where does it go?
It’s easy to hear the beep of a card reader or see the bills slip into the register and think of that money disappearing. But of course, we know that isn’t the case. The dollars we spend spread out through the economy, first to the businesses we shop at, then to their suppliers and employees, and on and on from there. Each dollar isn’t spent once – it’s spent over and over again as it winds its way through the community. For a local economy to thrive, ideally, a dollar ought to be spent as many times as possible locally before flowing out, driving economic activity at every stop along the way.
So, for consumers and business owners passionate about ensuring the success of their local community, how can we ensure that our dollars reach as far as they can? The answer is simple: shop local. According to the SBA, of every $100 spent at a local business, $68 remains in the community. That staying power of money makes shopping local an easy and affordable way to invest in economic development right here at home, without requiring any additional effort
In Sanford and Lee County, we are lucky to have ample opportunity to support local businesses. Our downtown area has food and shopping options in abundance, with more always on the way – with the ‘Third Thursday’ event happening tomorrow being a great way to take advantage. This Spring, a new Farmer’s Market downtown will close the distance between farm and table like never before. And our SAGA membership directory can connect you with local businesses from beauty salons to barbecue joints, and everything in between.
But while we absolutely encourage you to patronize our community’s consumer businesses while shopping and eating out, our definition of shopping local runs far deeper. It means considering how far through our community your dollar will go when you choose to spend it, not only as a consumer, but as a business owner. When choosing suppliers, are you ensuring that the local supply chains that make our area competitive benefit? When buying services, are you giving local entrepreneurs a chance? When making the best choice for your business, we ask that you consider how your support for a local business contributes to the same local economy that supports you.
By shopping local in Lee County, we are doing more than just signaling our commitment to community. We are keeping our hard-earned dollars in our local economy, maximizing their potential to bring prosperity with each person that spends them.