Resale Stores & the Web

As the news breaks daily with the woes of the corporate world, misfortunes of a much smaller magnitude are occurring almost silently.  Although silent and smaller on an individual scale, combined, the impact is huge.  Small business, Main Street, if you will, is struggling.  Small business is the backbone of any community and they need your help.

Small business owners donate money to local organizations, oftentimes they are the ones who who sponsor recreational and school sporting teams, scouting events and so on… These donations allow for lower individual costs – take that away and either the programs go away or allow only those who can afford the increased participation cost.

Small business owners donate time to causes – you’ll often see local business owners involved in the Lions/Lioness Clubs, Soroptomist Clubs and the like.

Small business owners are the ones who donate products to organizations who hold fund raisers… Today I was at a local Autism Speaks Fundraiser community event. They had a raffle with beautiful baskets and other gifts – all donated by our local businesses.  There wasn’t a basket from Wal-Mart, Target, Old Navy, The Mall, Home Depot or Lowes – they were from a local spa, a local bakery, a local gym and many, many more small businesses…   I’m not saying the big boys don’t give, but they tend to be the ones with the photos of the giant check for $500 for the Local SPCA or another cause.  And, certainly their giving counts – all giving counts. But, as small businesses struggle, their giving is less and has a greater impact.

Additionally, Stacey Mitchell from NewRules.org has found through various studies that independent retailers spend more than half their revenue locally. These businesses  bank at their local banks , hire local accountants, advertise in local media, and require many other local services that chains do not. These individual business owners shop locally as well, bank locally and give from an individual perspective and generally encourage their employees to be community minded as well.

For mid-sized and smaller cities especially, this is a vital source of economic activity and jobs that pay a middle-class income.

So, where is this going?

“Save your local economy three stores at a time, spearheaded by RetailSpeaks CEO Cinda Baxter is grass roots campaign to help local independent business owners/retailers and thus the local communities.

The 3/50 Project‘s goal promotes consumers to shop locally owned businesses while business owners thank customers for the positive impact that decision has on a local economy.

The 3/50 Project is premised upon three simple numbers; pick 3 local business and divide $50/per month to spend monthly between these businesses – the result: $68 retained in your local economy for every $100 spent.

Here’s how to contribute to your local economy:

Budget $50 each month to spend locally – things you normally need to purchase.

3: Pick three businesses you’d miss if they were gone, then return to them to say hello, pick up a little something that makes you smile, knowing those transactions are what keeps that business around.

50: If half the employed population spent just $50 per month with locally owned businesses, it would generate more than $42.6 billion in revenue.
68: For every $100 spent in a locally owned business, $68 returns to the community       through payroll taxes, property taxes, sales tax, salaries, and other business expenditures. If spent in a chain or franchise, only $43 remains local. If spent online, nothing comes home.

In essence, the whole thing boils down to “Pick 3, spend 50, save the local economy.” It’s really that simple.

To read how this began, read here.

To learn more about The 3/50 Project

All it takes to begin?  It takes 1 person… Are you up for helping save your local community?

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