Why Buy Local?
When you spend money in your own community, it cycles through locally owned businesses more than 7 times.
Electronic transactions rely heavily on technology and internet connections. In this case, cash on hand is crucial in the event that the internet goes offline, the payment apps go down, or the power goes out due planned outages or emergency situations. Even the ATM onsite at the market at times goes offline. While the ATM is available to take out cash, it is still recommended that shoppers and vendors come prepared.
Consumers can help local businesses save transaction fees by providing cash payment. Every card transaction that is made to a seller may cost them up to 6% of every sale. This may not seem like much at first glance however this surely can become costly when it adds up. This is one way that an individual can choose to keep their dollars in the community to strengthen our local economy rather than in the hands of large corporations. Most vendors however are equipped with electronic payment and are happy to offer the option for their customer’s convenience.
By accepting cash, businesses are choosing inclusivity to a significant portion of the population where cash is their sole option.