Study Shows Value of Small Businesses
New Orleans, La. – Merchants along Magazine Street have been handing over financial records for a survey that found more of the money spent at independent shops stays in the community. Urban Conservancy spokeswoman Dana Eness says local political leaders must give small businesses a bigger say in coordinating economic development.
Magazine Street Merchant Association President Greg Dombourian says city council members he's met all say they support small businesses. But suggestions, like a shoppers trolley along the six miles of Magazine Street, don't get funded. Meantime, he says, it's been local businesses that have proven vital to the city's recovery.
Ennes says the study found local retailers generate twice the annual sales tax of chain competitors, on a fraction of the land.