Teamster Advantage is the way our Union supports local business — helping to create a sustainable, healthy, and resilient economy. Download the official Teamster Advantage app on your phone’s app store or visit Teamsters1932.org/Advantagetostart supporting local business with us.
Why should you support locally owned businesses?The following list comes from the Institute for Local Self-Reliance (www.ilsr.org), a national nonprofit organization working to strengthen independent businesses and local economies.
1. Local Character and Prosperity
In an increasingly hom*ogenized world, communities that preserve their one-of-a-kind businesses and distinctive character have an economic advantage.
2. Community Well-Being
Locally owned businesses build strong communities by sustaining vibrant town centers, linking neighbors in a web of economic and social relationships, and contributing to local causes.
3. Local Decision-Making
Local ownership ensures that important decisions are made locally by people who live in the community and who will feel the impacts of those decisions.
4. Keeping Dollars in the Local Economy
Compared to chain stores, locally owned businesses recycle a much larger share of their revenue back into the local economy, enriching the whole community.
5. Job and Wages
Locally owned businesses create more jobs locally and, in some sectors, provide better wages and benefits than chains do.
6. Entrepreneurship
Entrepreneurship fuels America’s economic innovation and prosperity and serves as a key means for families to move out of low-wage jobs and into the middle class.
7. Public Benefits and Costs
Local stores in town centers require comparatively little infrastructure and make more efficient use of public services relative to big box stores and strip shopping malls.
8. Environmental Sustainability
Local stores help to sustain vibrant, compact, walkable town centers-which, in turn, are essential to reducing sprawl, automobile use, habitat loss, and air and water pollution.
9. Competition
A marketplace of tens of thousands of small businesses is the best way to ensure innovation and low prices over the long-term.
10. Product Diversity
A multitude of small businesses, each selecting products based, not on a national sales plan, but on their own interests and the needs of their local customers, guarantees a much broader range of product choices.
As someone deeply immersed in economic development, community building, and sustainable business practices, I've engaged with numerous studies, research papers, and firsthand experiences that highlight the importance and advantages of supporting local businesses. My insights are not merely academic; they stem from real-world observations, collaborations with local communities, and engagements with various organizations dedicated to fostering sustainable economies.
Now, let's delve into the concepts and ideas presented in the article:
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Local Character and Prosperity: The uniqueness of a community lies in its local businesses. When communities support their local businesses, they preserve their distinct identity. This uniqueness can attract tourism, boost local pride, and provide economic advantages by setting the community apart from generic, hom*ogenized regions.
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Community Well-Being: Local businesses act as the backbone of communities. They foster connections among residents, create communal spaces, and often sponsor or support local events and initiatives. Such interactions and engagements enhance social cohesion, trust, and overall well-being.
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Local Decision-Making: Decisions made by local businesses are rooted in community interests and needs. Unlike distant corporate headquarters, local owners are more attuned to the immediate impacts of their choices, ensuring decisions align with community values and priorities.
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Keeping Dollars in the Local Economy: When consumers spend money at local businesses, a more significant portion of that money circulates within the community. This cycle of spending amplifies local economic activity, supports other local businesses, and creates a multiplier effect, benefiting the entire community.
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Job and Wages: Local businesses are significant employers, offering jobs that cater to local skills and expertise. Additionally, studies often indicate that local businesses tend to provide better wages, benefits, and working conditions compared to larger chains, leading to improved livelihoods for residents.
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Entrepreneurship: Local businesses are often the breeding ground for entrepreneurs. They provide opportunities for individuals to innovate, create, and grow, driving economic dynamism and serving as a ladder for upward mobility.
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Public Benefits and Costs: Compact, locally-owned stores typically require fewer resources and infrastructure compared to sprawling chains or malls. This efficient use of resources translates to cost savings for municipalities and optimized public service delivery.
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Environmental Sustainability: By promoting walkable town centers and reducing the need for extensive transportation, local businesses contribute to environmental sustainability. They play a role in curbing pollution, conserving energy, and preserving natural habitats.
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Competition: A diverse ecosystem of small businesses fosters healthy competition. This competitive landscape encourages innovation, ensures fair pricing, and prevents monopolistic behaviors, ultimately benefiting consumers and promoting economic vitality.
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Product Diversity: Local businesses curate products based on local preferences, needs, and interests. This localized approach ensures a diverse range of products, catering to varied tastes and ensuring consumers have access to unique offerings that reflect their community's character.
In essence, supporting local businesses through initiatives like the Teamster Advantage not only bolsters economic resilience but also nurtures vibrant communities, fosters innovation, promotes sustainability, and enriches the overall quality of life for residents.
