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Jim Magay |
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The economy continues to putter along like a Ford Focus on 3 cylinders. The news is AWFUL, AIG bonuses, Bernie Madoff (He “made-off” with all the money…Groan), Cramer vs. Stewart, car sales 50% off (note: new cars are now cheaper than year old used ones according to Edmunds), restaurants half full on Saturday night, discount shopping on the rise, money saving tips in the newspaper. (One thing you won’t hear is to cancel the newspaper and read the news online!)
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Then there are the talking heads who can’t find anything positive to talk about, just hedge funds and derivatives, murders, kidnappings and celebrities – all with an entertainment angle. (Is the American public so shallow everything has to be framed as entertainment?) Wait, I have to go watch Ellen!
Kidding aside, I do see bright spots here and there. New independent labs are starting up like our friends at U.S. Optical in Syracuse, new eye dispensers like our featured independent last month, Heather Allen in North Carolina.
Another bright spot is that local business groups are booming. Networking is the new print advertising. Business After Hours, sponsored by the local Chamber is huge. We meet at local restaurants, sometimes with 200 to 300 people in attendance. Nothing like walking into a room and getting attacked by 10 semi-crazed business card-wielding attendees before you take off your coat. There are smaller and more friendly gatherings like BNI chapters (Business Networking International), where they actually teach you how to network and be more effective in a group meeting. The Internet is great for spreading the word about where you can go and show the flag.
Then there are groups like Worcester Local First. A little background: “Most successful buy-local campaigns grow out of independent business networks that share three main elements,” says Jeff Milchen, who in 1998 co-founded the first such group in Boulder, Colo. First, they educate consumers about the value of independent businesses in the community. Second, they jointly promote shopping at those businesses through advertising, coupon books, shop-local weeks, and other efforts. And third, they give independent owners a unified voice in government and media.
At least 130 such groups have been founded since 1998, with the number roughly doubling since 2005, according to Stacy Mitchell, a senior researcher at the ILSR and author of Big-Box Swindle. Mitchell says about 25,000 small firms now belong to a business alliance promoting local shopping. The trend has been bolstered by growing consumer interest in buying locally grown food and reducing carbon emissions associated with shipping goods long distances.
It has been estimated that a $1.00 spent locally is worth $7.00 because of the local multiplier effect. We are in the midst of a campaign called “New England 10% Shift” where the public is being encouraged to shift just 10% of their purchase to local merchants. The results can be dramatic in preserving a vibrant local community – and that should be what we are all about!
Jim (Buy Local) Magay
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