Buffalo Rising Online

Jul 7th 2008, 6:01pm By Chao Li

Locally owned businesses are constantly on the verge of going extinct. This is a nationwide problem, but here in Buffalo, Buffalo First is working hard to educate our local community about the importance of ‘keeping it local”. As a part of the ‘Buffalo First on the First’ series, Chow Chocolat on Main Street will be hosting a July 8th event with a focus on community credit unions.

Local businesses keep our money within our own community, and that makes it a great asset in a city like Buffalo, where our economic self-sufficiency is in need of help. According to Founding Executive Director of Buffalo First Amy Kedron, “We focus on local independent businesses because their owners live here and have a greater interest in Buffalo's economy, environment and community. They also keep more resources in Buffalo and make our communities more stable.”

Kedron filled me in on Buffalo First and its monthly series. “Community-owned, “mom and pop” businesses are disappearing at an alarming rate. Since 1996, the top ten global chains have doubled their market share. Today Barnes & Noble takes in more than half of all bookstore sales, over half of all restaurant sales go to the top 100 chain restaurants in America and over half of the hardware and building supply market is owned by Lowes and Home Depot. The list goes on.” Buffalo First is a non-profit organization that provides advices and resources for local businesses to optimize their potential.

‘Buffalo First on the First’ is a monthly series that is normally held on the first of every month. This series works with consumers and also local, small business owners to create “a local, green and fair economy and a healthier, more vibrant community in Buffalo.”

Tomorrow, July 8, at Chow Chocolat, Buffalo First on the First will be concentrating on the importance of community credit unions. One of the positive aspects of the community credit union is that they work harder to return the money to the community by offering lower interest rates on loans than other banks. Along with this, another positive aspect is that members of community credit unions are owners of the credit union, and that gives the community greater control of where the money will go and how the money is managed.

Chow Chocolat will be providing samples of their chocolate, and Kelly Maurer from the Buffalo Cooperative Federal Credit Union will be sharing the benefits of community credit unions. She will also speak to how locally owned businesses can optimize their intake with different ways to manage their finances. The event will be held at Chow Chocolat, located at 731 Main Street. It will start at 5:30PM and is open to the public. No matter whether you are a small business owner or a resident of our local community, stop in for some great information about making Buffalo a better place, and of course, try some sweet treats offered up by Buffalo’s own Chow Chocolat.