On today's Edition of Put Your Money Where Your House Is, we're joined by an economist who literally wrote the book on the matter.
Michael Shuman, US economist and author of "Put your money where your life is" lays out some facts on the benefits of supporting local businesses.
"Locally owned businesses, or locally based institutions, these entities are responsible for between 60-80% of the jobs, that percentage goes up by the way in rural areas."
And they are making a lot more than jobs too.
"Locally owned business or industry generates 2 - 4 times the economic development impacts as the non-locally owned ones. Just with that fact alone, local businesses are essential to the well-being of a community."
Stay tuned throughout the week as we continue to highlight the importance of supporting local businesses!
