Lots of people think it’s cool to “shop local”, but what does it really mean to our community when you shop at local, independent businesses?
For every $100 you spend at a locally-owned, independent business, $68 stays in our community in the form of sales tax, payroll taxes, and income taxes. These taxes support all of the services we need for a functioning community: schools, streets, police, fire departments and more. When local business owners earn a profit from their businesses, they in turn spend that money at other local businesses by eating out, shopping, buying new cars or homes. Click here to see a list of some of our favorite local things.
When you spend $100 at a national chain, only $43 stays in our community. Your purchase at the national chain does generate sales and payroll taxes, but all profits from that purchase leave the state to support some other city, state or country’s schools, streets, police and fire departments.
National chains are less invested in our community. When times get tough, they won’t give much thought to closing stores and laying off dozens or hundreds of local workers (think Borders bookstores). Local businesses try harder to keep their employees and stay open during tough times.
When you spend money online, virtually no money stays here at home. No payroll taxes, no income taxes, no jobs created, etc. When was the last time Amazon.com or that eBay seller hawking cheap baby gear donated to your church or child’s school fundraiser?
So next time you head out of the house to shop, eat or conduct other business, take a moment to think about where you want your money to go. Do you want it to stay here in Oklahoma and keep our local economy vibrant and healthy? If so, make your money talk and support local businesses as much as possible. We thank you for it.