MY TWO CENTS:
Our world has gotten smaller. The ability to travel halfway around the world in a day or two, the ability to talk to a friend or loved one in real-time regardless of their physical location, and the incessant flow of data from every conceivable source are just a few examples of how our world has shrunk even in my lifetime.
But what about our economies and businesses? Sure we have big global businesses that have hundreds of thousands of employees and effectively serve millions and millions of clients. When a substantial economic event takes place in the United Kingdom, Greece, or China, we feel the impact in our domestic economy within a matter of days or weeks.
On the flip side, we know that small businesses that serve their local communities employ more people than big businesses. We also know that the impact of a local small business on their local economy is as immediate as the local printer’s son playing on the same basketball team as your son, the local chiropractor’s kids playing little league baseball, or the local manufacturer supporting his church and mentoring a budding entrepreneur. When you do business with and get to know local business people, you get to see the impact of your local investment first hand.
Many people think that the idea of “impact investing” is something that only happens “over there” or “far away.” While there is absolutely an opportunity to make an impact with your investment in a far-away land, you can also make an impact with how you choose to do business locally.
Back when our world was much bigger, it was only natural for us to start locally. We didn’t even have to think about the impact of our local investment…it was the only viable choice. You know what? We still have a choice…and can make a significant impact with our day-to-day investment through local small businesses!
Make it a great week!
Scott Cousino, CFP®