There’s no better place for children to learn a lesson in local economics than their neighborhood toy store.
Clear Lake Elementary second-graders visited Funky Monkey Toys in downtown Oxford Friday to learn all about how small businesses benefit communities.
Store owner Tom Jones (also known as Mr. Monkey) explained to students how each dollar spent locally benefits their hometown.
For every dollar spent at a local small business, 68 cents stays local.
But if that same dollar is spent at a big chain store, 57 cents leaves the community.
‘You want your money to stay in Oxford, in Lake Orion, in this area,? Jones said.
Money that stays in town helps pay property taxes to support schools, fire and police departments, and the library, he explained.
Local money is also donated to sports teams and various charitable causes. ‘That’s why it’s important to shop local,? Jones said.
Jones noted small businesses like his also provide jobs. For example, his store employs five people.
‘Small businesses employ 28 million people across the country,? he said. ‘They’re huge when it comes to employing people. Even bigger than the big companies.?
After the lesson was over, the kids pumped their dollars into the local economy and took home some fun toys.