As you prepare to make your shopping trips this holiday season, Mercer County Executive Brian M. Hughes encourages you to consider the many local businesses that make up the Mercer County region. Mercer County boasts a fantastic assortment of small-business destinations that may be only a short distance from your home or office.
“The effect on our economic development community can be significant when we decide to buy local,” Mr. Hughes said. “Several studies have shown that when you buy from an independent, locally owned business, more of that dollar spent is reinvested into the community. That particular business is more likely to purchase goods or services from local or regional businesses, and thus stimulate more economic growth.”
For example, studies have shown that for every $100 spent at a retail chain, there is a $14 return to the community. On the other hand, for every $100 spent at a local business, there is a return of $45 to the community.
In addition, Mercer County has several buy local initiatives in place to promote and support these businesses. “Throughout the year, our very own Mercer County Buy Local campaign assisted in the outreach of our local business communities,” Mr. Hughes added. “In partnership with the Small Business Development Center, we held several breakfast programs whereby businesses gathered to network and share ideas.”
Hamilton Biz Group, Keep It Local Robbinsville, Lawrenceville Main Street, Princeton Merchants Association and the Princeton Regional Chamber of Commerce Independent Business Alliance all play an important role in their local communities. The data clearly echoes the importance of these programs on the local economy. Average U.S. town revenues without a buy local initiative grow at 2.3 percent per year, while average U.S. town revenues with a buy local initiative grow at 7 percent per year.
Besides these benefits, buying local generates more local job opportunities and creates environmentally friendly practices.
Whether it’s a visit to our nearby retail store or a buying a gift card at our local restaurant, let’s all remember our independently owned businesses this holiday season.