The economic value of small business is shocking to most people…
Local retail returns 52% of revenue and local restaurants 79% to the local economy, while retail chains return only 14% and restaurant chains 30% (Civic Economics, 2012)… The University of California, Cornell University, and Clark University published that Wal-mart jobs replace 1.4 local retail jobs, and each new store takes away an average of $1.2 million of county-wide retail payroll (Neumark et al, 2008). Many studies show that chain stores cost taxpayers more than they produce in revenue… So instead of going out on Black Friday, and buying things that you probably don’t need, support your local economy. Continue reading Everything you Thought you knew about Small Business is Wrong! (Are Small Businesses Really That Important for United States and Global Economy? Part II)