The Importance of Local Economy

It is important to always remember how important your local economy is. When the area you live in or have a business in has a slow economy, usually business will be slow for you. Conversely, when your economy is on the “up-tick,” it leads to success in your market whether you’re in a sales or service industry.

Sometimes we get too busy doing our every day jobs and forget to notice how the economy around you is affected by everything. For example, say you live in Dallas, TX; if the Dallas Mavericks win the NBA championship, it helps your local economy on many levels. The same thing applies if fortune 500 companies such as ExxonMobil, Southwest Airlines, or J.C. Penney are doing well. If they are experiencing growth, it means more jobs, raises for employees, etc. If, on the other hand, those companies are not profitable, many times jobs are cut, and the Dallas economy suffers.

The same principle applies for most small, local businesses – in fact, many times the smaller businesses more directly affect the local economy. Every time you make a purchase of any product from out of your area, or even out of the country, it has a positive effect on that business, instead of the one right down the road from you.

Click here to read how one real estate agent had a positive influence on her local economy.

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge