Roll Your Change Week (RYCW) is an event designed to encourage individuals and families to start saving. Community members gather the coins they have saved and found in their homes and carry them to a central event location-where volunteers roll the coins for them. People are encouraged to deposit their rolled coins into existing accounts […]
Grow It Goal 8
Family purchasing power, productivity and entrepreneurship strengthens local businesses.
Common Sense
- Ongoing investment in a business helps increase the value of the business asset over time.
- Locally owned businesses are more likely to reinvest in the community and less likely to leave.
- Children who grow up in a family business are more likely to succeed economically.
- Buying local creates an interconnection between producers and consumers, making them more aware of the impact of their buying and purchasing decisions on their neighbors.
Fast Facts
- Spending $100 at an independent business produces an additional $68 in local economic activity, while spending that same $100 at a chain only creates $43 worth of local impact. REF
- For every square foot occupied by a local firm, the local impact is $179, while every square foot occupied by a chain firm only creates a local impact of $105. REF
- Farmers receive an average of less than 10 cents of every dollar spent on food – the rest of the money goes to processors, distributors, and suppliers. At farmers markets, 90% of the profits go straight to the local farmer. REF
Check out related Action Ideas and Alerts below! Or view other Grow It goals here.
Rural Family Economic Success Action Network 