A Neighborhood Improvement Journal - Summer 2017

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Supporting Local Business

By Carol Yenne

When you make a choice to support a local business, you make a choice to give more of your money back to your community. The folks who own local businesses live in your town, often they live in your own neighborhood. They are part of the community where their businesses are located. When they pay property taxes, they pay local taxes and sales taxes, something that a big business with an out of state corporate headquarters is not doing.

The children of local business owners probably go to local schools that are supported by the extra tax money generated by local businesses. Those owners buy their cars from local dealers, putting tax money back into their communities. They buy their clothes and their groceries from the same local stores where you shop, again supporting your local economy. When a fund-raising event for the local school or church is held, it is most often the local businesses that donate the prizes and support the cause. When a crisis happens on the street, or within a local family, it is often a local business community that puts on a fundraiser or comes to the rescue. As local business owners, the money we spend on advertising also supports the local businesses that produce and distribute the ads. For those of us who are small business owners, our customers are often our friends, our neighbors, and other local businesses owners. The people we employ are also friends and neighbors.


In sum, when you spend your money at a local merchant, much of that money stays here in our neighborhood. When you make a choice to buy online or from a catalog or at a national chain, your money leaves the city, often leaves the state, and in many cases doesn't generate any local taxes or revenue. When you make a choice to buy at your local bookstore, your local florist, or your local gift or clothing store, you are making the choice to support the community in which you live.


If you want to make the best investment in your community, keep supporting your small businesses. We thank you for being our customers and for being our friends and neighbors.


TOP 10 REASONS TO LOVE SMALL BUSINESS
10. Small businesses make up more than 99.7 percent of all employers.
9. Small businesses create more than 50 percent of the non-farm private gross domestic product (GDP).tt
8. Small patenting firms produce 13 to 14 times more patents per employee than large patenting firms.
7. The 22.9 million small businesses in the United States are located in virtually every neighborhood.
6. Small businesses employ about 50 percent of all private sector workers.
5. Home-based businesses account for 53 percent of all small businesses.
4. Small businesses make up 97 percent of exporters and produce 29 percent of all export value.
3. Small businesses with employees start up at a rate of over 500,000 per year.
2. Four years after startup, half of all small businesses with employees remain open.
1. The latest figures show that small businesses create 75 percent of the net new jobs in our economy.


Source: Office of Advocacy, U.S. Small Business Administration

Carol Yenne is a past-president and member of the Board of the Noe Valley Merchants and Professionals Association. You can reach her at cyenne@sbcglobal.net or find her at Small Frys, her shop on San Francisco's 24th Street.

 

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