As a locally owned and operated business, Karalina’s supports The 3/50 Project and hopes you will to.
If you spent just $50 each month at 3 local brick and mortar stores in our community, an average of $17 at each, you could help pump millions back into the local economy.
This is the basic concept of The 3/50 Project, created in March, 2009 by Cinda Baxter, a retail consultant and professional speaker from Minneapolis.
According to The 3/50 Project, “for every $100 spent in locally-owned independent stores, $68 returns to the community through taxes, payroll and other expenditures. In contrast, at national chains, only $43 remains in the community.”
This means spending money at locally owned businesses benefits us locally by an additional 58%. That is a tremendous local stimulus package we should all want to get behind.
In addition, when you buy something from an online vendor located in another state, instead of at a local store, $0 stays in the local economy. No local sales tax is collected. No local property tax. No money is spent at another local brick and mortar business for supplies, professional services, deposited in the local bank or anything. Nothing of what you spent stays where you live.
That means no money stays locally to support our local charities, education, arts, health care or local employment. These all depend on a healthy local economy and collection of local taxes paid by local businesses. In addition our local businesses and their owners give back to our communities by supporting the local high school, local little league, local food bank, local community theater, the local cancer support group and a myriad of other local organizations, that touch our lives and make where we live a better place.
The 3/50 Project shows us that we can do so much for our local community by using our entire budget in smart ways, not just what we put aside for “giving”.
Try it this month, spend that $50 you were going to spend anyway, but spent it at local independent businesses, and stimulate where we live by an additional 58%.
Help keep our local communities alive and vibrant.