Main Street, Hyannis— Following the past year’s successful events, Hyannis Main Street Business Improvement District is again organizing Shop Local Day as a way to highlight the importance of spending dollars locally. More than 30 businesses on Main Street will be offering sales, discounts and deals on Saturday, May 11th, for Hyannis Main Street’s bi-annual Shop Local Day. With over 120 locally owned businesses and over 50 restaurants, Main Street has a big story to tell.
In a slower economy, where consumers spend their money is extremely important. Studies have shown that when people spend their money in a locally owned store, as opposed to a nationally owned store, it generates between two and four times more money for the local economy. That is because local businesses tend to use other locally owned businesses for capital investment and professional services, such as accounting and bookkeeping, printing and web design, advertising, as well as building maintenance, renovation and repair, thus recycling money back into the community.
Because they are run by residents of the immediate communities, local businesses have a natural interest in Cape Cod’s long term health, and therefore they make significant investments in the community. They are the greatest supporters of local charities, schools, teams, and community events and fundraisers. On average, local businesses give three times the amount to a local community than national businesses.
Main Street has a huge number of family-run businesses as well. Each one tells a story about their unique vision and passion for hard work and community. Without these local businesses the Cape would not only lose part of what makes it so unique and attractive to visitors, but it would also lose the economic backbone of the community. By supporting local businesses, not only can the Hyannis and Cape Cod community survive, but it can thrive.
Shopping locally also lures people to a community. A growing body of economic research shows that in an increasingly homogenized world, entrepreneurs and skilled workers are more likely to invest and settle in communities that preserve their one-of-a-kind businesses and distinctive character.
Being part of Shop Local Day, the day before Mother’s Day, is a great way to send the message of caring for community.
Check www.hyannismainstreet.com for more details and a complete list of Shop Local Day participants and their specials.