The joy (and peril) of small business shopping

Posted by & filed under Part 1 Business in a Global Environment, Part 2 Starting and Growing Your Business, Part 3 Management: Empowering People to Achieve Business Objectives, Part 4: Marketing Management.

Description:  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:  CBSNews.com (MoneyWatch)

Date: November 29, 2011

Link:  http://www.cbsnews.com/8301-505143_162-57332742/the-joy-and-peril-of-small-business-shopping/?tag=nl.e857

Questions for discussion:

  • Why would shopping at smaller businesses help the economy?
  • Why do you suppose smaller businesses employ more workers than chains?

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