Buy local. Shop local. Use Local. Support local... Everything is local, local, local! But why?
Going beyond unique gifts, great experiences, and superior customer service, buying local has a direct economic impact on your community and quality of life. Let’s look at some examples of from world-wide research that Judith Schwartz of Time Magazine pulled together. Getting down to the basics of buying local is actually pretty simple. When you spend money with a local business more of that money stays in your local community. According to a study carried out by the New Economics Foundation in London in 2008, when people buy produce at a local farmer’s market instead of a supermarket, twice the money stays in the community. According to author and NEF researcher David Boyle, that means the purchases made at the farmer’s market are twice as efficient in keeping the local economy alive. “Buy Local” campaigns serve another function, too. According to Susan Witt, Executive Director of the E.F. Schumacher Society, “buy local” campaigns can alert the community to gaps in the market and give others an opportunity to capture some of those dollars. For example, if consumers keep turning to on-line or big-box stores for socks, that signals an opportunity for someone locally to make and sell socks. Witt says, “This is the way product innovations get made. The local producer adds creative elements that make either the product or materials used more appropriate to the place." The third reason pointed out by Judith to “buy local” involves the circulation speed of money. The idea is that if the money stays local, the money passes through more hands quicker than if you spent the money with a big-box store, so more people have the chance to use the money and make purchases with it. According to David morris, Vice President of the Institute for Local Self-Reliance, money spent with local businesses more than likely goes to input costs than larger profit margins, putting that money right back into the economy. Judith can explain her findings in greater detail. Check out her article here: http://content.time.com/time/business/article/0,8599,1903632,00.html. I’m not the biggest fan of math, so I will keep it simple for you. Your Money + Local Business = Bigger Impact on Indiana. It’s that basic. We hope that Indiana Originals will help you find those local businesses easier and fast so you can impact your life in Indiana, too. As always, if you have any questions, suggestions, or comments, feel free to email us directly. Leading Local Living, Mel email@example.com