Locavesting was a new term to me a couple of weeks ago. It seems to be a blend of the words local (as in your community) and investing.
A gentleman who is trying to start a local, family owned natural food grocery store (The Crunchy Grocer) brought it to my attention. My BobsHeartbeats.com blog post about The Crunchy Grocer gives the details.
He is trying to get funding to finance a new business that would have natural and organic foods. He is using private funds and bank funds. Now he is asking people in the community to invest too.
Further investigations told me that there is even a book and a blog site on locavesting. It is written by Amy Cortese, and is called
“Locavesting: The Revolution in Local Investing and How to Profit From It.”
The book is available at the online Amazon and Barnes and Noble sites.
Amy Cortese’s locavesting website tells more than I can ever do here.
NOTE: I was just told that locavesting is also a play on the word ‘locavore’ – a person who eats a locally-sourced diet (and Oxford American Dictionary’s 2007 word of the year!) Thanks to the book’s author Amy Cortese for sharing this.