How can you help or improve your local economy? Why is that even important?
Let’s take a look at what you can do to help your local economy.
Lockdown can be much longer
Let’s start with an example that is familiar to everyone – a pandemic. Some states handle lockdowns better than others. What’s the difference? Communication and also how fast are local communities able to adjust to the new conditions. For example there are many Czech companies that were able to adapt to the new situation quickly and thus do not have as many problems now, when it seems that it is going to last longer than expected last spring.
Where does your money go?
As an individual, you can do a lot for such a local economy. For example, you can change your shopping agenda and shop more with small, local businesses. Because your money will not go to a large coropration, but it will help to provide school supplies for your neighbour. Or pay rent for your friend. By deciding where to buy, you can affect other people’s lives positively or negatively.
If there is an economic downturn, or a severe crisis, barter is what works in any time. There is strength in the community. It is necessary to support mainly the local economy, find cohesion and not rely on government incentives.
Think about where your money will go and support the local economy so you can help prevent businesses from closing. There are now also other tools that can be used even in local communities for transactions, such as digital currencies. Consider learning about them in advance so you will have the advantage of knowledge when or if the time comes.