Thanksgiving is not just about gorging on turkey and all of the trimmings, watching football and falling into a tryptophan induced food coma. It is a reminder to all of us to give thanks for the blessings that we enjoy, our friends and family. And while we may do that (hopefully) on Turkey Day, we do have an opportunity throughout the year to acknowledge and reward the local businesses in our area that are helping to keep the economy afloat closer to home.
With the charge to Pick 3; Spend $50; Save the Local Economy, this grassroots campaign is committed to spreading the message to use local businesses whenever possible. The premise is simple: What three local businesses would you miss if they were no longer there – perhaps it is the dry cleaner, the photographer or the local diner? Want to make sure they are around the next time you need your suit cleaned, you need a professional head shot for your marketing collateral or you need a handy spot to meet your client? Patronize your local businesses and you benefit your local economy.
If just half of every employed person spent $50 per month in locally owned, independent businesses, $42.6 Billion in revenue would be generated.
Here is an even more startling statistic. For every $100 spent locally, $68 is returned to the community in the form of taxes, payroll and other expenditures. If that same $100 was spent in a chain, only $43 is returned locally. And, if spent online, the local economy receives zero benefit for your $100 in purchases. Think about that the next time you pass up the neighborhood coffee shop for the Starbucks for your daily caffeine fix.
The 3/50 project had an inauspicious beginning. It was born out of the negativity perpetrated by the media on the state of the economy and the recognition that consumer spending is a critical factor in generating positive economic growth. The movement grew from a simple blog post by Cinda Baxter, retail consultant and motivational speaker. Her roots in retail led her to take up the charge of local brick and mortar independent businesses, giving them a voice in the face of seemingly overwhelming negativity. Her mission is to help independent business survive and thrive.
Her elevator speech is compelling:
“I hand Superman capes to small business owners, then teach them to fly.”
Cinda Baxter
So, the next time you pass that quaint book shop, stop in. Say hello. Make a purchase. Bring a smile. Think of how sad you would be if it had to close and you only had a big box store or the Internet to explore. Wouldn’t you rather have an interesting conversation about your favorite author with the friendly, knowledgeable staff?
Pick 3. Spend $50. Save the Local Economy. Become a caped crusader for your local independent storefront businesses. Your reward will be a vibrant local community.
