Investing Locally: Locavesting on Main Street not Wall Street
We have all heard about the local food movement but what about the local investment movement?
What would happen if we invested 1% into a local business rather than sending our money to large corporations or overseas? In the Adirondacks there are plenty of people with great ideas that lack the capital to grow their business. As more and more people attempt to eat locally, can we take it one step further and start investing with that same 50-mile range?
Author Amy Cortese writes about investing in businesses 50 miles or less from your home in her book, Locavesting: The Revolution in Local Investing and How to Profit from It."
Some of the greatest examples she found of local stock markets and local investing was in the town of Hardwick, VT where business owners went to local investors to solve cash flow issues when businesses started to grow too fast
The Saranac Lake Community Store is one such group investment effort and I am sure there are others in the Adirondacks.
© Diane Chase, author of Adirondack Family Time: Tri-Lakes (Lake Placid, Saranac Lake and Tupper Lake) and High Peaks (Your Four-Season Guide to Over 300 Activities with GPS Coordinates) available online or bookstores/museums July 2011. Diane is currently working on the second guidebook in the four book- series of Adirondack Family Activities. Book 2: Adirondack Family Activities from Plattsburgh to Ticondergoa, Book 3: Adirondack Family Activities from Long Lake to Old Forge, Book 4: Adirondack Family Activities from Newcomb to Schroon Lake (including Lake George)