Which 3 Locally Owned Businesses Would You Miss If They Closed?

*Editor's Note: The following information and photos were provided by the . On Nov. 14, we changed this number from million to billion.

At a , more 100 small business owners and interested persons learned how to help save local economies by using the “3/50 Project.”

Cinda Baxter, 3/50 Project founder, discussed the importance of having an economic balance between independent businesses and national chains. The key, according to Baxter, is to not forget “the little guy” when planning to shop, dine or use services.

Rather than look at the 3/50 Project as a David vs. Goliath battle, Baxter encouraged consumers to think about which three independently owned businesses they would miss if they closed and recommended visiting or patronizing the stores and spending at least $50 a month between them.

Baxter noted that the national chains need independent businesses in the marketplace to sustain local economies and provide goods and services they cannot offer. Baxter says if half the employed U.S. population spent $50 each month at locally owned businesses, their purchases would generate more than $42.6 *billion in revenue.

Her studies also show that for every $100 spent at independents, $68 returns to the community through taxes, payroll and other expenditures. The same $100 spent at national firms returns less, while money spent at online retailers returns zero dollars to local economies (unless the site is situated in that community).  

Find more information on the program at the350project.net.

The 3/50 Project presentation was organized by the Lake Township Chamber of Commerce and was held at the Hartville Kitchen. Event sponsors included WRL Advertising, The Repository, WHBC and Consumers National Bank with the support of the North Canton and Jackson/Belden Chambers, Canton Development Partnership and the Canton/Stark County Convention and Visitors Bureau.