I recently had the pleasure of hosting Amy Cortese in a webinar on Blab. Initially, I wanted her to focus her conversation on equity crowdfunding. Equity crowdfunding involves work that New Day Consulting Systems, LLC is involved with and I have some understanding about. Prior to our conversation, my focus on Amys work was centered on crowdfunding. However, in my preparation for the webinar, I researched her writings and public speeches. And a whole new world was unveiled. Amy Cortese is the author of Locavesting. And she was a TED Talk speaker in Maui discussing many of the subjects in her book.
She begins her TED Talk with one question: What would the world look like if everyone invested 50% of their investment dollars within 50 miles of their home? Would we have urban decay and rural decline? Would we have thriving mainstreets and diversified economies? Would states become more self-sufficient?
Amy Cortese is not the author of the question. Woody Tasch, author of Slow Money, is. He questioned why many Americans are investing the bulk of their money in large multi national corporations that are taking jobs out of the United States and have little concern for local economies.
During this very toxic presidential election and this incredibly difficult time in American history, I strongly encourage every entrepreneur and small business owner to review Amy Corteses TED Talk and her work. She has a website called www.locavesting.com.
Many do not recognize that franchising can be a form of local investment. The bulk of franchises were formerly Mom and Pop operations. Some franchises obtain private equity and become large multinational corporations. However, most franchises do not. The vast majority of franchises are formerly small businesses based in the U.S. and have strong ties to their local and regional communities. In light of this fact, franchising can be a powerful tool for local investment and small business ownership.
What if we all invested 50% of our investment dollars within a 50 mile radius of where we lived? I am certain the United States would dramatically change economically for the better.