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Shop Small

Hey Iowa ...!!

Whether we like it or not the holiday spending season is here .. along with the cold weather .. :)
You hear this phrase often, "Shop Small", from lots of small businesses and you see this every Monday from me: Shop Small .. Shop Iowa .. Shop IowaAntiqueNetwork.com . 
What does the above really mean to you, Iowa's small businesses and Iowa local and state governments if you do, in fact, Shop Small & Shop Iowa ? 
I did a couple of searches on Google a few days ago and found the following statistics.
The average household will spend over $900 this year on the holidays. I am not sure if this is just presents or covers decorations, parties and eating out. This info comes from Investopedia.com
The below info comes from IowaDataCenter.org:
Number of Iowa households: 1,247,932. Average household size (people): 2.43. Families (2016)1
Based on the above guestimates we can anticipate Iowan's spending just over 1 Billion dollars during the holiday spending season. Yep, billion... lots of zeros. I got this figure by multiplying 1.2 million households times $900 spent during the holidays. You do the same please..:)
So, what would that mean if you, the consumer, pledged to spend 25% locally at small Iowa businesses like corner diners, local antique and vintage shops and the local bakery etc. That means $250,000,000+ would be spent locally. That would bring a LOT of Holiday cheer to a LOT of people. FYI, there are 250k or so small businesses in Iowa. If every business got an equal share it would mean $1000+ in their till. That would cover their holiday spending .. !!
What does this mean to the state and local governments? At a 7% tax rate the state and local governments would share a bit over 17 million dollars. I am sure they would be happy .. :)
Last, the multiplier effect, which means that every dollar earned and spent locally (with a locally owned small business) could stay in the state and be spent multiple times with taxes taken on each spend. OMG...that is a bundle of tax $ and income. 
So, that is why you hear Shop Small .. Shop Local .. Shop Iowa  as often as you do. Doing so can make a major impact in thousands of local households and local governments .
Have a great Holiday Season everyone...!!
Shop Small .. Shop Iowa .. Shop IowaAntiqueNetwork.com .. !!

 

 

 

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