My friends and I were talking about the small businesses that had recently gone out of business in Richmond–Lane Sanson being one of our favorites–and how we hope the trend doesn’t continue. Many of my clients are small local business owners in Richmond & surrounding area, so I’m taking a keen interest in helping them thrive during this difficult time.
Someone Twittered this article on the 3/50 Project and I was immediately fascinated by the sheer simplicity of this concept: if only 1/2 of the employed population spent $50 a month at a local, independently-owned business, it would generate more than 42.6 BILLION in revenue. Because such a higher percentage of revenue from these businesses goes right back into the local community–$68 for every $100 in fact–it’s a winning strategy to get the economy rolling again.
What about the “spend it online and nothing comes home” part of the 3/50 project? There are several examples of businesses right here on Richmondmom.com that offer products the national chains offer at reduced prices (online and in person!) that would benefit the community. Examples: By Invitation Only and Tweed at the Shops at Westgate, Monograms for All Occasions in Twin Hickory, Weebsworld in Short Pump, It’s Hip to Be Round in Carytown, and USA Baby & Kids.
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‘m making a concerted effort to shop locally as much as possible–not saying that the “big guys” are the enemy and that we should drop all big-box spending and run for the boutiques. In fact, the big guys employ Richmond folks and should be supported, but this simple 3/50 concept is an easy one for most to integrate into daily spending, and start making a difference.
