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Here’s why keeping the doors at a small business open matters for the U.S. economy and local communities. ... best ways we can support small businesses is to encourage our philanthropists and ...
Local businesses are perceived as rooted deeply in the community, meaning they employ local people, give back to local causes, and attract customers (and therefore revenue) to the area.
Community-based economics or community economics is an economic system that encourages local substitution. It is similar to the lifeways of those practicing voluntary simplicity , including traditional Mennonite , Amish , and modern eco-village communities.
The notion of community business is linked to the notion of community ownership, and more widely co-operative models of ownership.. In his History of Community Asset Ownership, [1] Steve Wyler argues that community ownership represents a strain of English socio-political thoughts and activism that can be traced back to the progressive removal of common land from the Norman Conquest and ...
Local economic development (LED) is an approach to economic development, of note in the developing world that, as its name implies, places importance on activities in and by cities, districts and regions. Local economic development combines economic development activities, urban planning, infrastructure development and social development ...
The economics of location refers to the study of the factors that influence the location of economic activity and the spatial distribution of economic phenomena. This includes the study of how businesses and industries choose where to locate, how the location of economic activity affects the local economy and society, and how government ...
A local exchange trading system (LETS) is composed of local members that want to trade goods and services with other members in the group. These LETS use a unique local currency on which all trade is based upon. Those who are in LETS believe that they benefit both the members and the local community due to the organized nature of these LETS.
The local multiplier effect (sometimes called the local premium) is the additional economic benefit accrued to an area from money being spent in the local economy. The concept has been taken up by advocates for "spend local" campaigns in addition to more formal treatments in the area of regional economic development .