Why Buy Local?

Yesterday I started my one week (maybe longer) challenge to buy from Small, Community, and Local businesses (SCIL). This challenge is meant to look closely at the money I spend and how much I let leave my community. As a community we spend nearly $1 trillion and how much of that comes back into our community?

dollar-bilss-in-a-hole-money-going-down-the-tubeA study on the Chicago area completed in 2005 by Civic Economics, an economic analysis firm, found that for every $100 in consumer spending with a local business, $68 remains in the Chicago economy — and for every $100 spent at a chain, $43 remains in the Chicago economy.

If we were all to spend majority of our money our community the result would be huge! Have you heard of the multiplier effect? Well:

The multiplier effect is the boost to your local economy that results from locally-owned independent businesses, owners, and employees spending business revenue within the region. Typically, local independent businesses recirculate a much greater percentage of sales locally compared to absentee-owned businesses (or most locally-owned franchises).

This is not a new idea either… There are campaigns set in place to help you do just this… So after my one week challenge I am committing to the 3/50 project.

Screen Shot 2013-08-25 at 12.15.47 PMThe 3/50 project is a national campaign to support local business. It states that if half the employed population spent $50 each month in locally-owned stores, it would generate over $42.6 billion in revenue. 3/50 encourages people to choose three local businesses they couldn’t live without, then spend $50 at each one monthly.  Not hard right?

So take a week and look at where you spend your money then; after a week pick three businesses independently owned in the community that you would miss if they disappeared and support them monthly with $50.

According to Susan Witt, Executive Director of the E.F. Schumacher Society, “buy local” campaigns serve another function: alerting a community about gaps in the local market. For instance, if consumers keep turning to on-line or big-box stores for a particular product—say, socks—this signals an opportunity for someone local to make and sell socks.
Read more: http://www.time.com/time/business/article/0,8599,1903632,00.html#ixzz2d0EqAKkl

So Go Buy local and Carry On! keep-calm-and-buy-local-26

Here are some resources that can help! #SupportSCIL #BuyLocal #AshleyBuysLocal

The Buying SCIL Challenge

buy-local-and-carry-onToday I begin my SCIL Challenge…

What is that you may say… Oh let me tell you… SCIL is Small, Community, Independent & Local Businesses that is. So for one week only that’s what I’ll be shopping. It is time to take back the buying power and keep money in our community. (Read why here)

So for everything I need I will be shopping in my community, the community I work and the one in proximity of those… I have Identified Bronzeville to South Shore as my ‘Hood. I will be buying everything in the community in stores that are independently owned. I also have included farmers markets (as they are included in buying local).

This is not just a one week home run. This week is meant for me to truly push myself on where I spend my money and how. After this week (and already a bit for those that know me) I will continue to push myself to support these businesses.

Join me!

Here are some links to learn where to shop

Farmer’s Markets http://www.cityofchicago.org/city/en/depts/dca/supp_info/farmers_market.html/

TheBlackMall http://theblackmall.com/

Eat Drink and Buy Local http://www.eatdrinkbuylocal.org/

Up Chicago http://www.upchicago.com/category/do-see/shopping-chicago/local-chicago-stores

So Buy Local and Carry On!

#BuyLocalChallenge  #SupportSCIL  #AshleyBuysLocal