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Small Businesses That Are Important To The Local Economy | Winchester Star

WINCHESTER – Christine Kriz, director of the Lord Fairfax Small Business Development Center, knows math and supports shopping in local stores and restaurants.

For every $ 100 spent in a local facility, an average of $ 73 will remain in the local economy, according to Kriz. For every $ 100 spent in a non-local business, an average of $ 43 remains in the local economy.

“The multiplier effect created by local shopping has a lasting impact on the prosperity of local organizations and residents,” said Kriz. “Local spending ensures your sales taxes are reinvested in your community, which can lead to better schools, city services, infrastructure, and more.”

Shop locally, agree local trade leaders do things like support local sports programs and nonprofits. It also puts money into the hands of local residents, who in turn spend money in other local facilities.

A Michigan State University study of the impact of shopping in local stores also suggests that shopping locally helps raise the general level of economic activity, pay more salaries, and build the local tax base.

The study concluded that local businesses across the country outperform chain stores and restaurants in wages and benefits to local residents, profits from local owners, buying local goods and services for internal use, and contributions to local nonprofits.

“It’s a huge benefit when shopping locally,” said Sharon Baroncelli, president of the Shenandoah County Chamber of Commerce.

Local churches are full of small businesses, and new ones pop up every year.

Providing more options to consumers can lead to more shoppers leaving and browsing local stores rather than ordering from larger stores online. These businesses can also have a major economic impact on a community, including attracting other businesses and organizations and even promoting educational growth.

“The Top of Virginia Regional Chamber is about 85 percent small business. One thing noteworthy is the longevity of some of these companies like Wilkins’ Shoe Center and Solenberger’s, ”said Kory Campbell, director of marketing and communications for the TVRC.

Small businesses often offer products that consumers cannot find anywhere else. They are unique in what they sell and even how they sell their products, as evidenced by the many alternative methods used to promote and sell products during the COVID-19 pandemic.

These small businesses eventually make the communities known for something other than large physical stores.

“The benefits of a thriving local independent business sector are not limited to economic benefits. Perhaps just as important is that independent companies define the self-image of the community and create a certain pride in the people who live there, ”explains the Michigan State study. “National retail chains, on the other hand, can homogenize a community and reduce its uniqueness and originality. Many communities choose to take control of their own economic character by supporting unique, one-of-a-kind local businesses. “

Many leaders across the country have long been promoting small businesses as the backbone of the community, and the northern Shenandoah Valley is no different.

“Our small businesses are the backbone of our communities. Without shops on Main Street, we don’t have Main Street, ”Baroncelli said. “They don’t have a vibrant economy or a vibrant community. They are crucial to a successful and strong community. “

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