Economic Development: Support Local Service Providers
This holiday season, many of you may have been aware of campaigns to support local businesses and even participated yourself. We should all encourage everyone to support their own local economy and eliminate leakage in the economy. Basically you’re sustaining or improving your local economy if everyone is making the decision to use local professional services such as attorneys, consultants, accountants, etc. Whenever you choose to hire a local professional service provider you are strengthening local economic development in many ways.
Supporting local services providers helps local economic development by putting money back into the local economy. “On average, for every $100 spent at a locally owned business, up to $70 stays in the local economy, creating jobs and expanding the city’s tax base.”*
Additional benefits of supporting local service providers are:
1. Preserving local entrepreneurship
2. Benefiting from local service provider’s expertise
3. Attracting additional service providers and new investment
4. Increasing the range of services offered.
5. Enhances a sense of community
You can read about more benefits of supporting local businesses here.
Lingospot’s content curation software is a great tool to aid in creating a website with news and information to help support your local economic development. You can provide aggregated news, videos and information on local services offered, create a directory of local businesses, and become a hub for local information and news. Likewise, if you are a service provider, you can curate content similarly to create a page for your business (see this recent blog post about saving time this way). If you would like additional information about Lingospot's software, please feel free to contact us.
*Data source
