What is the 3/50 Project?
It’s a loose national coalition of independently owned brick-and-mortar businesses, the kind of businesses our nation is built upon. We aim to encourage support of these businesses, and not just for the selfish reason that it would be better for us (although, of course, it would be). It’s also better for the community itself.
What’s an independent?
Here’s a great description from the 3/50 Project website:
“There are as many definitions for the word “independent” as there are types of retail stores. For the sake of clarity, we cull the most salient points from the most highly respected “buy local” organizations in the country, and hold businesses fitting that definition in the highest regard.
“Don’t assume that ‘independent’ equates to a monotone description, however. The 3/50 Project supports locally owned brick and mortar businesses of all types: retail stores, dry cleaners, movie theaters, restaurants, etc. The people behind the counter and in the back office are the same ones you see at the nearby grocery store (possibly another indie business), each of which has a personal stake in the health of your local economy.”
For every $100 spent in locally owned independent stores, $68 returns to the community through taxes, payroll, and other expenditures. If you spend that on a national chain, only $43 stays here. Spend it online, and nothing comes home. Nada. Zip.
How, exactly, does supporting an independent help the local community?
Because for every $100 spent in locally owned independent stores, $68 returns to the community through taxes, payroll, and other expenditures. If you spend that on a national chain, only $43 stays here. Spend it online, and nothing comes home. Nada. Zip.
But what does the “3/50” thing actually mean?
It’s shorthand for a simple suggestion: First, pick three independently owned businesses you’d really miss if they were to disappear. Second, try to spend $50 each month in all three of those businesses. If only half the people in the country did that, it would generate more than $42.6 billion in revenue. Imagine the impact if three-quarters of the employed population followed suit!
For more information (especially if you yourself own or manage an independent business, and would like to get involved), visit the 3/50 Project website.