With mega-corporations and chains on seemingly every street corner, local small businesses are quickly becoming an underutilized resource, which in turn causes our local economy to suffer. Research shows that if everyone in a city were to shift 10 percent of their spending from chains to local businesses, there would be an additional $235 million each year in that community’s local economy. That’s because nearly 65 cents of every dollar spent locally gets reinvested in your local economy, compared to 13 cents for the same dollar spent at a large corporation.
This Giving Season, check out these tips for supporting your community while strengthening your local economy!
Engage With Social Media
Supporting local doesn’t have to cost you anything. One of the most effective ways you can support local is by leveraging your social media. Share what’s happening with your favorite local businesses and the people behind them by liking, commenting, and reposting about what is happening with your favorite local businesses. You can even share the story of an entrepreneur you love with us, and we’ll share it with the community!
It’s gift season, and although you probably have the perfect gift in mind for everyone on your list, we challenge you to gift only locally this holiday season. And Small Business Saturday, happening the first Saturday following Thanksgiving, gives you a perfect excuse to celebrate and shop Arizona’s independent businesses alongside your community. This year, Small Business Saturday is extra special, with the annual Phoenix Flea event gathering over 150 of your favorite independent shops all in one place for the day!
Build Arizona’s Business Community
The best part about supporting local is that it’s a gift that keeps on giving. Small businesses are founded by entrepreneurs who love and believe in their home communities. Consider giving the gift of entrepreneurship to someone in your community by pledging a small and recurring donation of $25 a month to CO+HOOTS Foundation, and help an entrepreneur succeed faster.
Or, you can attend our second-annual Entrepreneur Extravaganza, happening all day on December 3rd. Entrepreneur Extravaganza is a day filled with free local food, networking, skill-building, endless support, and celebration of the community that brings us together. And all you have to do is show up!
CO+HOOTS Foundation is a nonprofit dedicated to building a better future for Arizona and its economy. We provide programming that ensures all entrepreneurs have equitable access to resources and opportunities necessary to succeed in our Arizona business community.