September Savings

In the smallest towns, bustling cities, & everything in between, more citizens lament losing a sense of community & local character. Meanwhile, national chains continue displacing locally-owned businesses countrywide. What are the economic costs to our communitites as absentee-owned chains displace locally-owned businesses?

Of course, we usually choose to do business where we preceive the best value for our time and money. But in an age where we're bombarded with thousands of corporate advertisements daily, perceptions may differ widely from reality. It's as easy to accept themes promoted in those corporate ads as it is to overlook the values independent businesses provide us, both personally and in our communities.

Economic Value of

Independent Businesses

It's time to consider the real costs to a community that loses it locally-owned business base. Local businesses employ an array of supporting services. They hire local accountants, insurance brokers, computer consultants, mechanics, banks, restaurants etc.

In contrast, a chain store typically is a clone of other units and uses a minimum of local services. A company-owned store's profits are promptly exported to corporate headquarters.

Dollars spent at community-based merchants create a mulitplier effect in the local economy, meaning that from each dollar spent at a local merchant, three or more times as much typically goes back into the local economy compared to a dollar spent at a chain store. For example, a 2003 economic impact study in Austin, Texas by Civic Economics, concluded for every $100 spent at a chain, $ 13 remained in the community, while $45 remained when spent with local businesses.

Maintaining Community Character

When asked to name our favorite restaurant, cafe or shop, it's typically a unique local business. Those businesses define our sense of place, but we often forget their survival depends on our patronage.

Local owners, typically having invested much of their life savings in their businesses, have a natural interest in the community's long-term health. Community-based businesses are essential to charitable endeavors; their owners frequently serve on local boards and support numerous causes.

Yes, some chains give back to townes, and not all local businesses are exemplary models. However, the overall impacts are clear; locally-owned businesses play a key role in our community that chains rarely do, while chains often even undermine community interest.

Feller Business Solutions is a local owned business. We support our community in a number of different ways for using local services for auto, insurance, accounting etc. We also support local events such as Bensenville's Music in the Park". Our annual scholarship award has helped local students achieve their goals of attending college.

Many of our customers are also local businesses and we want to help you succeed. We are excited to launch our new "Buy Local" Stimulus Program. To find out more about this program - please see artical in this newsletter.