By Jessica Ramsdell
Planning to spread some cheer? Focus on community during the holidays and purchase a one-of-a-kind creation from your local small businesses in Philadelphia. By doing so, you’ll be giving a gift that keeps on giving — local economic prosperity.
Did you know that for every $100 you spend at locally owned businesses, $48 is returned to the local economy compared to just $14 when you shop at a national chain? Or that the country’s 32.5 million small businesses create 62% of net new U.S. jobs annually? So, when you shop locally, you’re not only putting your hard-earned dollars to work in your community; you’re supporting the engines that fuel our national economy.
Independent, community-serving businesses typically consume less land, carry more locally made products and create less traffic and air pollution, so it’s good for the environment, too.
And locally sourced goods and services like those found in Philadelphia are often crafted by local artisans and are exclusive to our region, making for memorable gift-giving during the holidays and beyond.
If you prefer your gifts without a shiny bow, then gift an “experience” to an outside concert, pick up a meal from the local family-run restaurant or host an intimate party with a few friends and family. These memory makers are a great way to stay connected as we adjust to the new normal and continue to support small businesses and help sustain the local economy.
Post a picture or video of your favorite locally sourced product and share it on social media as inspiration for others.
Better yet, continue the movement beyond the holidays. Show support for entrepreneurs and small businesses throughout the year by shopping locally and encouraging your friends and neighbors to do the same. Port Richmond Savings supports many of these small businesses through loans that help them get started or grow.
“We proudly support our community’s economic engines — small businesses — and encourage consumers to shop locally during the holidays and year-round,” said Sid Smith, president at Port Richmond Savings. “When you reinvest in the businesses that support your neighbors, you’re making an investment in our collective future — supporting your friends and neighbors and helping our community prosper.” ••
Jessica Ramsdell works for Port Richmond Savings. To learn more about Port Richmond Savings and helping your community by banking locally, visit www.PRSBank.com.