“Choosing a locally owned store generates almost four times as much economic benefit for the surrounding region as shopping at a chain, a new study has concluded. The analysis also found that eating at a local restaurant produces more than twice the local economic impact of dining at a chain restaurant.” This is the conclusion of a research study from Civic Economics. Powerful stuff and very much in line with what we are trying to do at Ethix.
Ethix has changed the merchant service business model which typically funnels profits away from the neighborhoods where businesses are located and made it local by returning 25% of total revenues back into the organizations that are working to build community in their areas. A radical departure in financial service fee structuring and a simple and effective way to keep money local and put it to work in ways that make a difference.