wisewords
Empower Local Businesses to Strengthen Local Economies Success Tips from Advocate Michelle Long
by Brian Clark Howard
How does investing money locally, or community capital, help?
M
ichelle Long is the executive director of the
Bellingham, Washing- ton-based Business Al- liance for Local Living Economies (BALLE). The fast-growing net- work aims to empower local businesses with their financial goals while they actively contribute to healthier communities and a cleaner environment. Their triple bottom line is people, the planet and profit. BALLE represents 22,000 inde- pendent businesses in 30 states and Canadian provinces. By serving as an information clearinghouse and support center, BALLE is proving that no busi- ness is too small to make a difference.
Why is it important to foster local economies?
Locally based activity is where we are
seeing real prosper- ity. Today, as we face economic, community and ecological crises, we see bright spots where local businesses are working together to build strong, healthy local economies.
How can local businesses posi- tively affect their communities and the environment?
There is a natural accountability when business owners live with the impacts of their decisions, instead of from hundreds or thousands of miles away. Local supply chains also reduce carbon impacts by decreasing transport time.
Why is it vital to foster new strategies and support net- works for local businesses? Small businesses are stronger together
This aspect is a critical component of a healthy community economy, because too often, when we put our money into something like a mutual fund, we don’t know the impact and how much harm is coming from it. Community capital, investing locally, is much more personal and direct; it can help ensure we’re bringing about changes we want, such as resilient communities and local food supplies. Just going for impersonal finan- cial returns isn’t working.
More local banks are innovating in this area. One example is One Pacific Coast Bank, in the Northwest. New kinds of investment clubs also are com- ing on line.
Which examples illustrate how businesses are thriving as a result of new local models? Several local manufacturing groups spoke of their results at BALLE’s 2011 annual conference. Examples include SF (San Francisco) Made and Made in Newark. These nonprofits build a regional economic base by developing a sustainable and diverse local manu- facturing sector.
In Philadelphia, the apparel boutique Sa Va uses local materials in every detail, down to people growing plants for dye in vacant lots. The city has granted the shop tax breaks in ac- knowledgment that it creates jobs and supports other local businesses.
Which examples illustrate how businesses have reinvented themselves based on new local models?
34 Collier/Lee Counties
swfl.naturalawakeningsmag.com
than they are alone. Working in col- laboration, business people enjoy en- hanced powers of communication and networking, including opportunities to save on smart, shared purchasing. They often support each other through learn- ing, mentoring and even investing in each other’s businesses.
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