Description:Ã‚Â Like many Americans, I like to shop at small, locally-owned businesses when I can. Millions of people participated in “Small Business Saturday” this past weekend, with an eye toward improving our local economies. After all, a 2008 study of Grand Rapids, Mich. from research firm Civic Economics found that locally-owned businesses tend to spend a higher percentage of their revenue on payroll than chains. For instance, for every $1 million in revenue, chain restaurants employed 9.7 people while independent restaurants employed 14.8. In other words, if you want to create jobs, you buy local.
Source:Ã‚Â CBSNews.com (MoneyWatch)
Date: November 29, 2011
Questions for discussion:
- Why would shopping at smaller businesses help the economy?
- Why do you suppose smaller businesses employ more workers than chains?