I’m not anti-Wal-Mart, anti-Starbucks or anything like that. I think people should be free to compete in a fair market, and if Starbucks brews a better pot than Bob’s Coffee Shack, then Bob should either get better or close. But here is an interesting statistic about supporting your local establishments. For every $100 you spend at a chain, whether it is a store, movie theater, restaurant or other, only $13 remains in your community. That is done through wages, local purchasing, etc. However, if you spend $100 at locally owned establishments, $45 stays in your local community. There are a lot of reasons for this. All profits stay, more purchasing is done locally for anything from printing to produce and more activities are done locally versus at a corporate office. So, while your local companies still need to compete, consider this stat when spending your next dollar. It has been said that all politics is local. Well, most economics is local as well.
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