The Multiplier Effect - How does Oliver's help the local economy?
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In this study, it is discussed how Oliver's, a local market in Sonoma County, is a great boost to the local economy. Due to them buying local goods, hiring local employees and then selling their products to local people, the flow of cash stays local which helps our local economy. This is a great concept because it is a step closer to being self sufficient in our communities, showing that local businesses supporting each other can be an effective way to sell goods in a community. Therefore, this is also a step closer to no longer supporting large corporations when shopping in our communities.
Oliver's generates a large income for the entire local community. By purchasing locally, selling locally, and being locally owned, it has an effect on the local economy. In this article, the author discusses how Oliver's provides a multiplier effect on the economy by doing just that. Because they locally source their goods and hire locally, all of the money therefore stays local, and none of it is received by large corporations out of the area. The money that is spent in non-local corporations and businesses is being brought out of our community. In simple words, every local aspect of Oliver's has a direct multiplying effect on our local economy. This provides local people with jobs, which is a gain to local economy, provides local businesses with a popular retailer to sell their products, and provides local people with good products to purchase which support not only the owners of Oliver's but the businesses they buy from. This chain of local support is what directly boosts the local economy and therefore makes a change in the community, which is the multiplier effect.
In this study, it is discussed how Oliver's, a local market in Sonoma County, is a great boost to the local economy. Due to them buying local goods, hiring local employees and then selling their products to local people, the flow of cash stays local which helps our local economy. This is a great concept because it is a step closer to being self sufficient in our communities, showing that local businesses supporting each other can be an effective way to sell goods in a community. Therefore, this is also a step closer to no longer supporting large corporations when shopping in our communities.
Oliver's generates a large income for the entire local community. By purchasing locally, selling locally, and being locally owned, it has an effect on the local economy. In this article, the author discusses how Oliver's provides a multiplier effect on the economy by doing just that. Because they locally source their goods and hire locally, all of the money therefore stays local, and none of it is received by large corporations out of the area. The money that is spent in non-local corporations and businesses is being brought out of our community. In simple words, every local aspect of Oliver's has a direct multiplying effect on our local economy. This provides local people with jobs, which is a gain to local economy, provides local businesses with a popular retailer to sell their products, and provides local people with good products to purchase which support not only the owners of Oliver's but the businesses they buy from. This chain of local support is what directly boosts the local economy and therefore makes a change in the community, which is the multiplier effect.
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