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Buying locally keeps your dollars in the community. In a study done in 2004 called "The Andersonville Study of Retail Economics", the impact of local businesses and their chain competitors were compared. The study found the following results:
- For every $100 in consumer spending with a local firm, $68 remains in the economy.
- For every $100 in consumer spending with a chain firm, $43 remains in the economy.
- For every square foot occupied by a local firm, local economic impact is $179.
- For every square foot occupied by a chain firm, local economic impact is $105.
- Replacement of local businesses with chains will reduce the overall vigor of the economy.
Keep these things in mind when choosing vendors. Help Greensboro businesses stay in business! Buy Locally!!!!
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