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How to Support Your Local Economy

How to Support Your Local Economy

Keeping your money in your city or state seems to be becoming more and more important. Paying local shops for goods and supporting local businesses is great for the economy of every city and state. There are a few different ways to accomplish this, here are some ideas to help you support your local economy.

How to support your local economy

Support Local Business

This one goes without saying. Supporting local business is the easiest way to support your local economy. Places like the local bakery, attorney, or even credit unions are usually like minded when trying to support the local economy. They pay their employees with the income they generate in hopes that the employees will spend their money at other local shops. Small businesses also work with other small businesses. There’s almost an unspoken rule that they should support each other. Which in turn supports the local cash flow.

Utilize the Farmer’s Markets

Farmer’s markets sell produce from farms that are local. You can find organic and even “local” produce. The FDA has a different classification for each, but on average, in order for produce to be sold as “local,” it needs to have been grown within a 400-mile radius of where it is sold. Chances are, the produce you are buying at the farmer’s market is supporting a local farmer, keeping the money in the state or even the town.

Mom and Pop Establishments

Skip the franchises and big corporations. There’s a good chance that somewhere near you is an amazing mom and pop restaurant that has the best tasting food in the area. There are also the little mom and pop gas stations, florists, jewelers, just about every profession you can think of probably has a local presence that isn’t owned by a franchise or corporation, some operate right out of their homes. Become familiar with products and options offered by the people in your local community. Like I mentioned earlier all of these people usually like to work together to keep the money in the local economy.

Volunteer

Volunteering can help in a lot of different ways. If you volunteer your time that means a local company does not need to pay someone to do a job. If you have a skill that you can put to use you should offer to help small businesses in any way you can. They may even be willing to exchange goods for your volunteer work.

When it comes to keeping the local economy strong and booming there are quite a few things you can do to contribute. Believe in your community and help it grow by doing what you can to support the local economy.

Do you have any experience with any of these tips? Where have you volunteered? Feel free to share in the comments!

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