Bay Fed and a Big Check Help Us Celebrate Small Business Week!

May 3, 2018

Happy Small Business Week! April 29th to May 5th is National Small Business Week. A week dedicated to celebrating small businesses and highlighting the many positive impacts they have on our community. Small businesses contribute to both our local economies and our local communities; they create jobs, they generate sales tax, they keep money circulating locally, they donate to local causes and organizations, and they help to keep our community vibrant.  Small businesses are community builders and are a huge part of what makes Santa Cruz special.  

Did you know that each dollar you spend at an independent business returns an average of three times (yes three!) more money to your community than spending at a chain store? This is called the multiplier effect. 

In honor of small business week, we teamed up with Bay Federal Credit Union for a Shop Local campaign to track the multiplier effect of how your money stays local when you shop local.

Small Biz Week

We kicked off the campaign Monday morning with Bay Federal Credit Union President and CEO, Carrie Birkhofer, making the first purchase at Artisans Gallery downtown. Later that day, Artisans’ owners Linnaea and Peter headed to Chocolate Restaurant for a delicious farm-to-table lunch. Next David, longtime owner of Chocolate Restaurant, went to Luma Yoga, an award-winning yoga studio and wellness center, for an hour long relaxing massage. 

Luma Yoga owner, Valerie, next spent her dollars on a new dress for her daughter from Cognito Clothing, a vintage to modern clothing boutique for men and women. Janis, from Cognito Clothing, took that money and spent it on an afternoon treat of delicious ice cream and cookies at Pacific Cookie Company. Pacific Cookie Company employees Ashley and Stefani headed out to the west side for lunch and beers at Santa Cruz Mountain Brewery. The final purchase of a super soft t-shirt and dog treats was made by Tamara, an employee of Santa Cruz Mountain Brewery next door at Sawyer Land + Sea.

All of these purchases demonstrate the power of spending local. When spending money locally your dollars are being circulated throughout the community through employee wages and donations and other purchases at other businesses. The positive impacts of a single purchase have a rippled effect that goes on and on!

Other fun facts about local businesses and the power of shopping local:

Small businesses donate more than twice as much per sales dollars to local non-profits, events and teams compared to big businesses or chains.

Small businesses create two out of every three net new jobs in the private sector, and more than half of Americans either work for or own a small business.

Long story short: small businesses rock! And they are an essential part of our community and local economy.

To learn more about our fabulous Small Business Week Sponsor, Bay Federal Credit Union, visit them at any of their local branches or online.

Bay Federal Credit Union has been proudly serving our community since 1957, and provides full service financial products and solutions to Santa Cruz, Monterey, and San Benito counties. As a local, member-owned, not-for-profit financial cooperative, they are passionate about contributing to the community and being an integral part of its incredible story.

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