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HomeMy WebLinkAboutYour Dollars Do More When Spent at a Local Small Business - 5/2/2022Your Dollars Do More When Spent at a Local Small Business Town of Firestone Celebrating National Small Business Week Businesses in the Town of Firestone offer a wide variety of goods, services, and dining options. So whether you need pet or aquarium supplies, a cake or dessert for that special occasion, supplies for your yard or home DIY or repair project, or services – personal, professional, medical, dental, or other self-care – you will likely find it in Firestone. And when you buy in Firestone, the sales tax you pay goes right back into your community parks, streets, police, and other Town services. According to the U.S. Small Business Administration (SBA) Office of Advocacy, “Small businesses are the lifeblood of the U.S. economy, generating 44 percent of U.S. economic activity.” Studies also show that local businesses recirculate a greater share of every dollar in the local economy as they create locally owned supply chains and invest in their employees. For example, a Civic Economics Study determined that $100 spent at a local independent business provides $68 total local economic impact. In contrast, the same amount spent at a national chain competitor only provides $43 total local economic impact. Another study, completed by the Institute for Local Self Reliance, determined that $100 spent at a local independent business generates an additional $45 secondary spending in the local economy. This direct and secondary economic benefit to the community results from spending done by the local business owner to operate the business, including inventory, utilities, equipment, and pay to employees, who then spend a portion of their pay in the local economy, supporting other businesses. Make the dollars you spend go even further in supporting our local economy by supporting small businesses in Firestone! Thank you to all small business owners who choose to do business in Firestone and grow our economy! Town of Firestone Economic Development 9950 Park Ave., Firestone CO 80504 www.firestoneco.gov/EconomicDevelopment 303-531-6265 or 303-531-6263 Share on Facebook Share on Twitter Share via Email Copyright © 2022 Town of Firestone. All Rights Reserved. 9950 Park Ave., Firestone, CO 80504 Powered by