In today’s globalized world, it’s easy to prioritize convenience when making purchases. But what if there was a way to get high-quality products and services while also strengthening your own community? Supporting local businesses offers a surprising number of benefits, not just for the consumer, but for the entire local economy. This is one of the core values of The Trafalgar Trust, where we source produce locally, work with local tradesmen to support and be part of our local community.

The Ripple Effect of Local Spending

A study in the USA [Small Business Economics][1] found that for every dollar spent at a local business, 68 cents stays within the community. This is a stark contrast to national chains, where only 43 cents typically remain local. This “ripple effect” occurs because local businesses are more likely to:

• Purchase supplies and services from other local businesses. This creates a network of interconnected businesses that support each other’s growth.
• Hire local employees. Local employees spend their wages at other local businesses, further circulating money within the community.

A report by [American Independent Business Alliance][2] highlights this point, stating that small businesses employ more than half of the private workforce in the United States. Supporting local businesses directly translates to supporting local jobs. we have a similar experience, our events manager is local, our event staff are all local, and we leverage local suppliers wherever possible! We truly live our value!

Investing Back in the Community

Local business owners are often deeply invested in the communities they serve. They are more likely to:

• Sponsor local events and charities. This strengthens the social fabric of the community and creates a sense of place.
• Reinvest profits back into the business. This allows local businesses to grow, hire more employees, and offer a wider range of products and services.

According to [Civic Economics][3], local businesses donate 350% more to charity than national chains. This translates to increased funding for local schools, libraries, and other community organizations.

Beyond Money: Building Relationships

Shopping local isn’t just about economic benefits. It also fosters a sense of community and connection. Local businesses are often family-owned or operated by people you know. This allows for:

• Personalized service. Local businesses often take the time to get to know their customers and provide a more personalized shopping experience.
• Unique products and services. Local businesses are more likely to offer unique products and services that cater to the specific needs of the community.

Making a Difference, One Purchase or event at a Time

The next time you’re considering where to make a purchase or looking for a venue to hire, take a moment to think about the impact your decision could have. By choosing local businesses and hopefully The Trafalgar Trust, you’re not just buying a product or service, you’re investing in the future of our community.

Sources:

• [1] Small Business Economics [invalid URL removed] by David Neumark, et al. (National Bureau of Economic Research, Working Paper No. 18092, August 2012)
• [2] American Independent Business Alliance [invalid URL removed] State of Small Business Report 2021
• [3] Civic Economics [invalid URL removed] “The Local Multiplier Effect of Independent Businesses” by Michael Shuman (2012)