Streams

Locavesting

Monday, August 08, 2011

Amy Cortese discusses the ways that investing in local businesses, rather than faceless conglomerates, can bring investors profits while building healthy, self-reliant communities. In Locavesting: The Revolution in Local Investing and How to Profit From It, she argues that in the wake of the financial crisis, investors would be better served investing their money in businesses and people within their community rather than investing it on Wall Street.

Guests:

Amy Cortese

The Morning Brief

Enter your email address and we’ll send you our top 5 stories every day, plus breaking news and weather.

Comments [10]

Don from Port Townsend, WA

Great example of locavesting: Quimper Mercantile raised $500K, on their way towards $950K, from town residents and opened a community-owned retail shop.

Learn more about this pioneering locavesting program at invest.QuimperMerc.com

Oct. 18 2012 11:27 PM
Amy Cortese

For those who would like more information about Slow Money NYC, the url is www.slowmoneynyc.org. There is also a meetup site.

Aug. 09 2011 01:10 PM
anonyme

Jade - small, local business is not "elitist" re: prices - the local's prices more than likely reflect what things really cost. Read about Slow Money and the food system - if you are looking for bargains rather than value you are not in reality - just as the whole country is about food and prices.

Aug. 09 2011 09:53 AM
NYC North from NYC

Everyone interested in starting small businesses might want to check out Bizcocoon at: http://bizcocoon.heroku.com/

More information to come - please submit your email address on the front page

Aug. 08 2011 01:56 PM
jade

1) These small businesses do *not* create good jobs. They make lots o' cash for their owners, but horrbile, low-paying jobs.
2) The prices charged by the local company are only affordable by the elite.
3) what you are trying to do is to remove legal protections. this is a nightmare in the making. wait until the first fraud cases arise. silly silly silly.
All becasue you can never have enought local pickles.

Aug. 08 2011 01:53 PM
robert from brooklyn

What about Kickstarter.com? Can your guest considerer it's relevance?

Aug. 08 2011 01:48 PM
ericf

isn't there something to be said for geographic diversification? what happens if there is a regional economic slow down?

Aug. 08 2011 01:46 PM
Jim

When I started my business, I would not take money from friends and family because I did not want to put the personal relationships at risk. The business was a success, but if it had failed I would have likely lost both my livelihood and my friends.

So, what happens when the local businesses fail? While I am not suggesting that anonymous Wall Street investing or venture capital is better, they do remove the risk of ruining personal relationships when businesses fails.

Aug. 08 2011 01:40 PM
Jake

Can Ur guest name any investors interested in Incubating great but small businesses? Ny and nj. Banks too big.

Aug. 08 2011 01:37 PM
Gabriel from NYC

This sounds great just don't let the Chamber of Commerce hear about it. They'll figure out some way of getting that local money out of the community.

Aug. 08 2011 01:34 PM

Leave a Comment

Email addresses are required but never displayed.