what are the steps that we should be taken to improve our local economy
Answers
Answer:
Please don't spend money for anything!! that's the great way!!!
Answer:
The method of improving our local economy is
Investing in Your Local Economy
The steps involved in investing in your local economy are:
1. Purchase from local, small businesses
Purchasing from big-box and non-locally owned stores filters your money out of your local economy. Keep money circulating around your local economy by shopping from locally-owned companies whenever possible.
- Some easy changes to make include going to local mechanics instead of dealerships, and a local bookstore instead of an online retailer.
2. Shop for products made in your area or country
In addition to shopping at locally-owned stores, look for products made in your area or country. If, for example, your local grocery store sells an olive oil made abroad and one made by a local farm, opt for the local oil. For products that may not be made directly in your area, such as clothing or cars, look for ones that are made in your country.
3. Bank with local banks and credit unions.
Small banks and credit unions are generally more mindful with your money and invest directly in your community.[3] They also tend to be more flexible in supporting loans for small, local businesses. Work with a local bank or credit union rather than a megabank to not only support local jobs but also to support investment in your local community.[4]
- In addition to being beneficial for your local economy, local banks often offer the same services with lower fees attached.