Our Future is Local

Our Future is Local is a Not-For-Profit Incorporated Association which has been formed by the passionate community members and business owners of Griffith.

The organisation was formed by people who see the need for:

• Awareness,
• Support and
• Promotionof locally owned businesses for the longevity of a strong local community.

Our Future is Local encourages continuous improvement of its members through professional and business development.  As an organisation we aim to be proactive, dynamic and influential, supporting our members and their needs. We believe this is a great opportunity for our community and all local businesses.

Our Future is Local aims to:

• Strengthen our local community
• Increase awareness and educate consumers, business and government about the need to support local for the longevity and sustainability of our community
• Increase consumer, business and government spending in Griffith
• Increase competitiveness of local businesses through;  
     o         Education and Training  
     o         Business development
     o         Better networking opportunities
• Attract customers from other areas to spend in Griffith
• Create a buoyant and sustainable local economy

Research carried out in both Australia and the USA have proven that local economies suffer dramatically when Non-Locally Owned business move into communities.  In the US findings suggest that around $73 in every $100 stays and circulates within the community when spent in a locally owned business in comparison to only $43 for Non-Locally owned business. In Australia, findings by Price Waterhouse Cooper (2007) in a study into the Retail Grocer segment suggests

“… independent retailers make an economic contribution at a local level …  that is two to three times greater than that of major chain retailers. The studies indicated that for every $1 spent in an independent retailer, the local economy gained approximately an additional 40¢ in economic recirculation and redistribution benefits, where as only around a third of this value was generated at a local level by the presence of (non locally owned business).”    

A large number of studies have found that locally owned stores generate greater benefits for local economies, both quantitatively and qualitatively, than national chains, especially in regional areas.

"All eight [locally owned retailers] bank with locally owned banks. They purchase inventory from local manufacturers, and advertise in local newspapers, and hire local accountants, printers, internet service providers, and repair people. 

"A typical big box store spends 14.1 percent of its revenue within the local and state economy, mostly in the form of payroll. The rest leaves the state, flowing to out-of-state suppliers or back to corporate headquarters." 

Institute for Local Self-Reliance, 2003, "The Economic Impact of Locally Owned Businesses vs. Chains, A Case Study in Midcoast Maine" 

"In a study comparing the economic impact of ten Andersonville businesses and their chain competitors, it was found that locally-owned businesses generate a substantial Local Premium in enhanced economic impact...For every $100 in consumer spending with chain firms, $43 will remain in the local economy; if that same spending occurs with a locally-owned firm, that value jumps by 58 per cent, to $68. Similarly, for every square foot of space occupied by a chain, the local economic impact is $105; if a local firm occupies that same space, impact jumps by 70 percent, to $179." 

Civic Economics, 2004, "The Andersonville Study of Retail Economics" (Chicago, Illinois) 

Several researchers further make the case for community governments to create policy to protect their independent businesses.

For further information go to www.newrules.org/retail/econimpact.html. 

As governments hand out money for big box retailers to move into towns as part of “development” the small business owner loses out on all accounts.  Not only do local business owner’s rates and taxes subsidise these chains, but the stronger the chains get the better buying power they have and the greater the gap between pricing and costs is created. 

If it wasn’t for local business who would sponsor the local football teams? 

Social and Community Benefits of Locally Owned Businesses

(as taken from Price Waterhouse Cooper (2007) The economic contribution of small to medium-sized grocery retailers to the Australian economy, with a particular focus on Western Australia) 

A study compiled by the Institute for Local Self-Reliance with a focus on the state of Vermont in the USA 96 provided a list of clear economic, social and environmental benefits which are summarized below and are highly relevant to our local economy; 

• Independent retailers contribute to community character and well-being
• Independent retailers assist sustainable local economic prosperity
• Independent retailers promote entrepreneurship
• Independent retailers enhance competition and consumer choice
• Independent retailers provide environmental benefits and sustain local environments 

The latest marketing tactic from multi-nationals is to “act local”. With terms being bandied around like “your local bank,” “your local bloke” and “community benefit”.

They are trying to beat locally owned business at their own game and guess what, they are getting in first!  

Just because you know your business is locally owned doesn’t mean everyone else does!   

What local business owner’s have is identity, community and choice.   

What local businesses need is awareness, promotion and support. 

For further information

Contact	:	Paul Pierotti
Phone	:	02 6964 2777
Fax	:	02 6964 7982
Email	:	paul@caesars.net.au