A new and innovative Buy Local campaign
by October 28, 2009 7:22 am 59 views
Editor’s note: Michelle Stockman works with Little Rock-based Arkansas Capital Corp. to promote entrepreneurship development around the state. Stockman earned a bachelor’s degree from Loyola University-Chicago in communications and fine arts, and earned a master’s in entrepreneurship from Western Carolina University. Her thoughts on business success appear each week on The City Wire.
Over the years there have been many “buy local” campaigns to help support local businesses over the growth of national chains within our local economies. Many communities initially support the idea of shopping with their local entrepreneurs until they are allured back to the big box by fancy advertising. In this economy, local entrepreneurs have been working relentlessly to ensure their businesses stay afloat.
To help support a new wave of “buy local” campaigns, a new concept has begun to grow across the country. This campaign, The 3/50 Project has broken the idea down to realistic steps anyone in any community can take to help local entrepreneurs survive within our communities.
The idea is for the consumer to pick three local establishments they want to see succeed. Then the consumer commits to spending $50 a month total amongst those three establishments. The consumer has the flexibility to spend the $50 in any combination amongst the local businesses they wish to support. This business support also encourages community relationships to grow, thus improving the community’s self esteem.
For every $100 spent in locally owned, independent stores/restaurants roughly $68 is returned to the community through taxes, payroll and other expenditures. Shopping at a national chain will only return roughly $43 to a community. It is clear the whole community wins when you shop locally.
Business owners and consumers can participate in the 3/50 Project locally and nationally by joining the cause. Join this campaign and get to know your neighborhood business owners.
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Stockman can be reached at [email protected]