Wall Street Journal In-Charge 6.22.2011
Next time the coffee at your local deli seems weak, consider it’s working much harder than a Starbucks latte. That’s according to a new online tool that gauges the economic impact on local communities of spending at independently-owned small businesses, versus national chains.
Launched Tuesday by Independent We Stand, a Virginia-based advocacy group for independent business owners, the tool shows that for every $10 spent at an independent business, about $6 is returned to the local community in the form of payroll taxes and other local expenditures. By contrast, only $4 is returned by national chains.