For example, national retail chains typically keep only about 14% of the revenue they generate in the local economy (1). The vast majority of the money spent at these types of stores leaves the local community.
A typical locally-owned retail business keeps 48% of its revenue in the local economy (1). This means that when you spend your money at a locally-owned business, over three-and-a-half times more revenue stays in the neighborhood (compared to buying from a national chain), which in turn benefits the local economy in a variety of ways. For those who both live and shop in the same locale, this is especially good news.
At Make Good, the concept of local business is important to us, but we take the idea local quite a bit further than a typical local retailer, in that all (that's 100%) of the products we sell are locally sourced. That means that a far greater percentage of the revenue Make Good generates stays in the local economy (about 75%), when compared to the typical locally-owned retail business (and especially compared to a national chain retailer). This is a more difficult way of doing business, but it's one we care deeply about. Everything at Make Good is locally sourced, so our customers have the opportunity to know who makes the products we sell and how they're made. And since we both live and work in the neighborhood, the benefit of this model is palatable for us.
Even so, while we think highly of our local San Diego/Tijuana artisans, we're not provincial. We know there's lots of great artisans and makers all over the world (we know many of them and love their work). One of the unique contributions we hope to make to San Diego though, is helping raise awareness of the power of buying locally, of supporting local makers and creators. The awareness of the many benefits of sustainable, local living systems is growing. In case you haven't already seen it, a great summary on what this looks like can be had by watching The Story of Stuff.
For us at Make Good, this is a more difficult path to take as a business, but we think it's a good path. We hope you think so too.
(1) Compiled results form 9 studies by Civic Economics, 2012.