Local Business and Community are Interlinked

Culpeper Star Exponent

Business Monday

July 14, 2014

Jim Charapich

Who are our customers and what do they want? The simple question drives our economy. Businesses that keep this question in the forefront often find the benefits in increased profits. In addition to business, the same can be true for communities. July is Independent Retailer Month and in many ways the independent retailer and independent businesses in general are the heart and soul of a community. They are also known for being significant job creators.

As we consider the economic equation in our community, support for independent business is a win - win when it comes to revenues. The related tax revenues support local schools, local government, and local charities. Commonly circulated formulas suggest that a dollar spent locally turns in the local economy 5 times. In addition, as businesses grow locally they can expand into other geographic areas exporting goods and services while delivering revenues back into our community.  

It is normal to answer the question “who are our customers and what do they want” as a business. However, as a community, the question is sometimes lost in our daily habits to meet our needs. Local business is at the center of the balance that offsets residential real estate taxes by producing sales tax, meals tax, admissions tax, and the unfair BPOL tax revenues in it’s place. Our buying habits answer the question, who is our customer, as a community. Buy online to save a few cents, and the community loses the sale. Buy in a neighboring county, a neighboring state, or a neighboring country and our community loses the sale. Who loses? Our school students, our road maintenance, our law enforcement, our resources to provide fresh clean water, our parks and recreation services, and the list goes on.

Having a vibrant network of local business in our community helps to preserve our quality of life. They provide the products and services that allow convenience and selection when it comes to serving our needs. As we consider ways to reduce taxes and improve our quality of life, consider your buying decisions. We are fortunate to have the freedom to decide which businesses to support. Ironically, local business are our customers as a community, support them and they will return the investment many times.