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Thursday, December 17, 2009

Why you should shop local this season!

Be aware of the impact of your dollars.
A locally owned independent business returns approximately 80% of each dollar spent back to the community. Local, independent businesses assist the community through a “multiplier effect”: one dollar spent at a locally owned business will return five times that amount within the community through city taxes, employees’ wages, and purchase of materials and supplies at other independent businesses. In addition, these businesses will turn that dollar back into the community through school funding, social services, and contributions to local non-profit organizations.

Chains and franchises contribute roughly 40% and at times as little as 20% of the store’s sales back into the community through employee wages, sales taxes, and property taxes. Frequently, a chain store's location is owned by the larger non local company, and the business is given tax breaks by the city in order for shareholder profits to remain high. Locally owned independent businesses do not receive such benefits and thus contribute a far greater proportion of revenues to local taxes.

Riffraff is extra special because unlike other boutiques we have over 50 local contributors! Instead of ordering all of our merchandise from vendors across the country we host local artisans contributions such as artwork, furniture, jewelry, and accessories! Therefore event more of the money we have coming in gets put right back into the community's hands!

Remember to shop local and support for community this Christmas season!

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