Quick read: Why buy local products?
Quick read: Why buy local products?
In many markets today there are thousands
of products available. Consumption of these products depend on people’s needs
and wants. When it comes to basic needs, consumers have their own preferences.
One basic need we all have is food. Not everyone enjoys eating the same type of
food. The same is true for clothing and shelter. Secondary needs are also
varied. While some people will see education as important others will find the
need to own a business as a secondary need. Our wants are also very varied. All
these needs and wants, in most cases, require money. Now, why should you buy
local products?
Let’s assume you are employed and earn a salary. The first thing you pay is rent so that you don’t get evicted by your landlord. That money becomes an income to him/her. They are now able to pay for other expenses like school fees for their children. That money in turn becomes an income to teachers. Therefore the rent money you pay becomes income for many other local workers in the area you live. The same is true for other local products. Now, what if you buy foreign products? Let’s say for example you buy an ultra HD smart TV. Well, a small portion of money goes to taxes. Another small amount goes to the shop owner. Majority of that cash goes to the country where the TV was made. You are in fact paying someone’s salary in a foreign company. So, I’m not saying you should stop buying TVs neither should you stop buying foreign products. The computer I’m using to write this blog is made in a foreign country. How would I operate a blog without it? There are so many good products that come from foreign countries which can help us. For example a sewing machine. If you purchase one you can make clothes and sell. The only encouragement that we all need to try and do more is buy more local products. For example if you work in the insurance industry, will you sell insurance products to foreigners? If you are a doctor, do you patients come from abroad? If you are in the banking industry, do you handle cash from other countries? Therefore as you buy foreign products, also consider some local ones.
Let’s assume you are employed and earn a salary. The first thing you pay is rent so that you don’t get evicted by your landlord. That money becomes an income to him/her. They are now able to pay for other expenses like school fees for their children. That money in turn becomes an income to teachers. Therefore the rent money you pay becomes income for many other local workers in the area you live. The same is true for other local products. Now, what if you buy foreign products? Let’s say for example you buy an ultra HD smart TV. Well, a small portion of money goes to taxes. Another small amount goes to the shop owner. Majority of that cash goes to the country where the TV was made. You are in fact paying someone’s salary in a foreign company. So, I’m not saying you should stop buying TVs neither should you stop buying foreign products. The computer I’m using to write this blog is made in a foreign country. How would I operate a blog without it? There are so many good products that come from foreign countries which can help us. For example a sewing machine. If you purchase one you can make clothes and sell. The only encouragement that we all need to try and do more is buy more local products. For example if you work in the insurance industry, will you sell insurance products to foreigners? If you are a doctor, do you patients come from abroad? If you are in the banking industry, do you handle cash from other countries? Therefore as you buy foreign products, also consider some local ones.
If you like this article, please help me out by sharing it on social media. Thanks
No comments