Small businesses need to be cautious about how they interpret statistics indicating the economy is getting better. The dollar is still sliding and that will continue – and that affects everything else.
That said, the solution – the ONLY solution – to our economic challenges – is to strongly support small local and online businesses by diverting as much spending as possible from corporations to small business.
According a study by Local First: $73 of every $100 dollars we spend in locally
owned businesses STAYS in our communities! Only $43 of every $100 dollars spent in non-locally owned businesses STAYS.
Those statistics come from an infographic and study I linked to in a blog post I wrote at http://www.growmap.com/commentluv-your-way-to-business-prosperity/
- See that link for additional details on that study and how bloggers can further support small business and create a better world for all.
As we strengthen small local businesses we can encourage them to source locally and that will keep even more money in circulation, create jobs, increase the local tax base, and create a REAL economic improvement.
If the purchasing power of the dollar gets too weak we can even be creative about that. We can cross that bridge when we come to it. Small business IS the solution and I applaud all sites that share how best to support them.