2020 has been a year like no other in our lifetime and if you’re like a majority of Americans you are probably counting down the days until we raise our glasses and start a new year. With the coronavirus pandemic ravaging the global economy and wiping out calendars and social gatherings the holidays will no doubt have a different feel. If you’re still planning on checking off all your holiday gift lists for those you love, consider supporting local business. According to Fortune, nearly 100,000 establishments that temporarily shut down due to the pandemic are now out of business. With the sharp decrease in physical store shopping, online sales are expected to grow 20-25% this year. Before you jump on Amazon or another big box store, consider shopping online at your favorite local boutique, coffee shop, or specialty store.
The math for buying close to home is compelling—for every $100 spent at a locally-owned business, $73 remains in the local economy, and $27 leaves. Compare that to the same $100 spent at a non-locally owned business, where $43 remains in the local economy and $57 leaves.
Many local businesses are cognizant of the pandemic and are offering curbside pickup, delivery options, and more online choices. Here are the top 10 reasons to shop local, according to The Local Good.
- Local Economic Stimulus. When you purchase at locally owned businesses rather than nationally owned, more money is kept in the community because locally-owned businesses often purchase from other local businesses, service providers and farms. Purchasing local helps grow other businesses as well as the local tax base.
- Non Profits Receive Greater Support. Local business owners donate more to local charities than non-local owners.
- Unique Businesses Create Character & Prosperity. The unique character of your local community is defined in large part by the businesses that reside there, and that plays a big factor in your overall satisfaction with where you live and the value of your home and property.
- Environmental Impact Is Reduced. Small local businesses usually set up shop in the town/village center, providing a centralized variety that is much friendlier to a community’s walk score than out of town shopping malls. This generally means contributing less to sprawl, congestion, habitat loss, and pollution.
- Most New Jobs Are Provided By Local Businesses. Small local businesses are the largest employers nationally. Plus the more jobs you have in your local community the less people are going to have to commute which means more time and less traffic and pollution.
- Customer Service Is Better. Local businesses often hire people with more specific product expertise for better customer service. You are also going to see these people around town and they are less likely to blow you off or be rude because they have to face you day after day.
- Local Business Owners Invest In Community. Local businesses are owned by people who live in this community, are less likely to leave, and are more invested in the community’s welfare and future.
- Public Benefits Far Outweigh Public Costs. Local businesses require comparatively little infrastructure and more efficiently utilize public services relative to chain stores.
- Competition And Diversity Leads To More Consumer Choices. A marketplace of thousands of small businesses is the best way to ensure innovation and low prices over the long-term.
- You Matter More. We talk a lot about exerting influence with your purchasing choices, or “voting with your wallet.” It’s a fact that businesses respond to their customers but your values and desires are much more influential to your local community business than the large big box stores.
If you’re in the market to buy a home, trust the experienced professionals at Pacor Mortgage, We can answer your questions and help you take advantage of today’s great mortgage rates. Give us a call today at 773-881-7744 to set up an appointment, or visit our website to learn more about our products and programs.
2020 Pacor Mortgage Corp. Pacor Mortgage Corp is located at 14930 Cicero Ave, Oak Forest, IL 60452, Phone 773-881-7744 (Unique Identifier #120945). For Licensing information, go to: www.nmlsconsumeraccess.org. Pacor Mortgage Corp is an equal housing lender and is licensed by the Secretary of State under the Illinois Residential Mortgage Lending Act and is assigned Illinois Residential Mortgage License MB.0000892. Pacor Mortgage Corp branches operate with the following licenses and is assigned Illinois Residential Mortgage License MB.0000892-001, with a Wisconsin License # 260345BA, Palos Heights NMLS 261297 and is assigned Illinois Residential Mortgage License MB.0000892-008, Colorado, Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, California license # 41DBO-67516, Florida MLD1075, Indiana DFI 13177, Maryland 23528, Michigan FL0828, Michigan SR1130, Minnesota MN-MO-120945, North Carolina L-184546, Ohio RM.804151.000, Pennsylvania 43855, South Carolina, MLS – 120945, Wisconsin 120945BA, Kalamazoo, MI NMLS 120945 also DBA Lake Pacor Home Mortgage. This is not an offer for an extension of credit, a rate lock or a commitment to lend. All loans must satisfy company underwriting guidelines and any investor overlays. Any of the advertised products may be discontinued at any time. Information and pricing are subject to change at any time and without notice. Loans are being committed and closed at expressed rates although these rates change and may not be available at time of your lock in, commitment and / or closing. Pacor Mortgage Corp is not affiliated with your current lender, nor is it an agency or extension of the Federal Government, Fannie Mae, Freddie Mac or HUD.