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Locally owned makes a big difference. Several studies have found that about 3 times as much of the money you spend at a locally owned store stays in your local economy compared to a national chain. It's not just the profits. There are two factors that are far more significant in fact.
One is that locally owned stores employ more people locally per unit of sales than chains do. This is because everyone needed to run that business --- all the marketing and management -- is on site, not back a corporate HQ. That means for every $1 you spend at a locally owned store, you are supporting more jobs and more payroll in your community.
Another significant factor is that locally owned businesses on average buy more goods and services from other local businesses. They bank locally, get their printing done locally, hire local accountants, do more advertising in local media. Chains have very little need for these local services.
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