Your Main Street needs your retail dollars in order to keep serving the community
You don’t have to wait for the state’s latest revenue forecast to realize our economy is still struggling.
Most of us know someone who is either laid off, working fewer hours, or making do without a pay raise or a cut in salary. At the same time, a walk down Main Street reveals a number of area businesses that are clinging by their fingernails to survival.
All of which makes shopping locally this holiday season more important than ever. Although there may be some items unavailable at local shops and area businesses can’t offer the same steep discounts that the big box stores can, there are many advantages to spending your dollars closer to home.
First, you’re helping to provide jobs and maintain services in your community. Holiday sales account for a significant share of retailers’ profitability during the winter, especially with the traditionally lean months of January and February on the horizon. Should a local business fail or close, that means fewer jobs in your community and the loss of services — whether it be getting a vehicle repaired, selling needed supplies for your next home improvement project, or purchasing groceries — in your hometown.
Also remember that every dollar spent at home turns over seven times in your community. Spend that same dollar in a big box store, and the dollar’s economic impact typically ends at corporate headquarters far from this region.
Buying locally also helps support the businesses that contribute so much back to the communities they serve.
Whenever there’s a fundraiser to help someone struggling with medical bills or a need for contributions to help send a sports team to state or buy new uniforms for teams, local businesses have been among the first to donate. Through their contributions to area chambers of commerce, they also help fund community events — such as Orr’s Snow City festival, Cook’s Country Christmas, Ely’s Blueberry Festival and Tower-Soudan’s Fourth of July celebration.
We encourage people to give local retailers at least a portion of their business this holiday season. You may be surprised at what is available at local stores and what they don’t have in stock, they may be willing to order for you. Don’t forget the service industries, as well. A gift certificate for a day at a local spa, an oil change at an area auto service, meal at a local restaurant or food at a local grocery store can make a nice present.
Although there have been some modest signs that our economic woes may be ending, recovery will be long and slow.
Many small businesses that have managed to survive the downturn so far have done so by tapping financial reserves. In many cases, those reserves are all but depleted, which means for many Main Streets, the worst effects of this near-depression may be yet to come.
We can do our part towards helping our local economies by remembering to shop locally this holiday season. The survival of your community may depend on it.