With Thanksgiving around the corner, here at the EDD, we’ve been reflecting on what we’re thankful for. Besides being thankful for our work that allows us to interact with members of the Charles County community and promote the County as a great place for business, we’re extra thankful this year for the strong network of local businesses. In the spirit of the holiday, here are three reasons why we’re thankful for small businesses in Charles County:
- They keep retail dollars in Charles County. The presence of small businesses allows our citizens to shop local, ultimately putting residents’ money back into the County, instead of spending it elsewhere. According to the American Independent Business Alliance, 48 percent of every purchase at a local business goes back into the local economy (compared to only 14 percent of purchases at chain stores). Additionally, our local businesses create a strong commercial tax base. Eighteen percent of Charles County's property tax revenue—the largest source of County government funding—comes from commercial property.
- They create jobs in our County. The EDD’s main objective is to help grow the County economy, and local businesses directly contribute in this effort, creating job opportunities for Charles County residents. In Charles County, more than 2,597 small businesses employ 31,667 people in the County and pay over $3 billion in payroll. Small businesses are the backbone of our economy, allowing residents to live, work and spend in Charles County.
- They give back to the community. Besides bolstering the local economy, small businesses are also community leaders. Small business owners frequently get involved and give back, whether through donating to local causes, coaching local sports teams, volunteering in our schools, or planning events. They are our employers and citizens, invested in improving not only the County’s economic outlook but also bettering our quality of life and community as a whole. Small businesses help shape the future of business in the County, through their involvement in EDD’s work—more than 200 members of the business community attended our 2016 Fall Meeting to share their input and remain engaged with the happenings in the County.
Want to support Charles County businesses? Shop local for the holidays. Join us this weekend for the third annual Shop La Plata, Small Business Saturday. For more information about how the EDD helps local businesses, visit our Business Support page.