After all, small businesses pump the greatest percentage of revenue back into the neighborhoods we live (and celebrate) in. Small businesses (defined as having 500 or fewer employees) are the lifeblood of the American economy, accounting for an astounding 99.7 percent of all employer firms, according to a 2007 study by the U.S. Department of Commerce. 

 

If you missed the public service announcement on KHQA this summer, The 3/50 Project is designed with the idea of picking three local business you would miss if they closed and spending a total of $50 per month at those stores. Our spec building partner, Agracel, and author Jack Schultz reminded us in their weekly email yesterday of this worthwhile project.

 

Locally owned independent businesses are under far more pressure than ever. Trying economic times that have consumers closing their wallets, the credit crunch, and shoppers searching for perceived bargains at large chain stores have taken a severe toll. It was that combination of factors that was weighting heavily on Cinda Baxter, a Minneapolis-based retail consultant, early in 2009 when The 3/50 Project was born.  

 

One blog post meant for only a few friends was the start of what would soon become an international movement to support locally owned businesses. Baxter's idea was simple: if half of the employed U.S. population chose three locally owned independent businesses they would hate to lose, and then spent a combined total of $50 a month with them, it would have a major impact-generating an estimated $42.6 billion of revenue annually.

 

If half the employed population in Adams County spent a total of $50 a month at local businesses, it would generate over $10.5 million within one year. And for every $100 spent in locally owned stores, $68 remains in the local economy.

 

So consider the tri-state businesses you would miss while doing your holiday shopping this season. It is our purchases that keep those neighborhood shops, restaurants and boutiques in business.