Invest in Yourself this Holiday Season

When selling a house there is always a difference between price and value - price is the amount you are asking while value is perceived by the buyer. Ultimately, the perception of value can be influenced by many factors including the features, condition and location of your house when compared with other options.

Here in northwest Indiana, we have been very fortunate when it comes to perceived value, thanks to the many appealing benefits of our neighborhoods and communities.

Along with our exceptional location on Lake Michigan's south shore, northwest Indiana boasts an abundance of quality communities with a diverse selection of excellent schools (including Purdue, Indiana and Valparaiso Universities), cultural activities, recreational facilities and healthcare options for residents of all ages. You can also easily reach any destination within greater Chicagoland by car or commuter train.

But, it's the great selection of locally-owned and operated businesses that truly make northwest Indiana a unique and desirable place to call home. Beyond providing a defined product or service, locally-owned and operated businesses traditionally offer far greater value within their chosen communities.

Beginning with generous contributions of time and money (including product donations and discounts) they support academic, arts and athletic programs, serve on local boards and participate in a wide range of charitable endeavors, including the sponsorship of special events and community traditions.

It has been estimated that non-profit organizations receive an average 350% greater support from local small business owners than they do from non-locally owned businesses.

Plus, local owners typically invest a great deal of their life savings into their businesses, so they have a natural interest in the long-term health of their community.

"Most consumers don't realize that so much more revenue stays in the community when they buy locally," Cindy Baxter, founder of the 3/50 Project which encourages consumers to visit 3 local independent brick-and-mortar businesses and spend at least $50 every month, said. "For every $100 spent at independents, $68 comes back through taxes, payroll and other expenditures. At national chains, the return falls to $43. Spend it online and nothing comes home."

As the largest employer nationally, independent businesses often provide the most new jobs in a community. According to the Small Business Administration, over the past 15 years small businesses have generated 64 percent of net new jobs and employed just over half of all private sector employees.

Plus, small businesses tend to hire people with more specific product expertise who will in turn provide the best possible customer service.

According to the Consumer Reports National Research Center, a better all-around shopping experience is another reason to frequent local retailers. A recent poll of 25,000 subscribers by the Consumer Reports National Research Center revealed that independents rated highest for service, checkout ease and staff knowledge when it came to shopping for appliances.

It's also important to note that a variety of small businesses, each offering a range of products and services based on their interests and the needs of local customers, contributes to a broader range of product choices as well as lower prices over the long-term.

Consider some of your favorite food stores and restaurants, clothing and gift shops, plus specialty retailers for the home such as independent appliance and electronic showrooms, hardware stores and garden centers. How many small, local businesses are important to you? Keep them in mind this holiday season. Your loyal patronage is especially important if you want to help keep their doors open during these difficult economic times.

While cosmetic improvements such as fresh paint and new/clean carpets and flooring generally add more value than they cost when it comes to selling a house, the importance of a vibrant community should never be taken for granted. After all, the top reasons why people choose to live where they do typically include family, school, work and the local business climate.

When we shop independent small businesses, we invest in our community, in our neighbors and in ourselves.