Did you know?
For every $100 spent at a local business, $63 is recirculated back into the Tri-Cities community, compared to only $14 from multinationals.
Local businesses hire local workers. Small businesses in Canada employ 8.4 million people, or 68.8%, of Canada’s private labour force. In BC, independent retailers employ 8.4x more staff per square foot, and independent restaurants employ 1.4x more staff than their multinational counterparts. When choosing to support small businesses in your city, you are helping create job opportunities for your neighbours and those looking to move to your municipality. This, in turn, helps stimulate growth and development, leading to improved quality of life for yourself and your community.
Locally owned businesses contribute 24x more to local charities and fundraisers than their national counterparts. By volunteering or making donations, local business owners support local sports teams, non-profits, community groups and more. Local business owners invest in the community and have a vested interest in the future of that community.
Locally owned businesses spend up to 31.4% of their revenue on BC products and services from BC-based businesses. Locally sourced and produced products create an economic benefit of 1.8-7.1x that of imported goods. This is done by keeping a much larger share of payroll, profits, purchasing and philanthropic giving within BC. When choosing to support local businesses who utilize local suppliers and manufacturers, you help cut down on the extensive emissions from transportation. In fact, purchasing local products reduces greenhouse gas emissions by 5-66% compared to imported goods. When compared to a non-local retailer that operates purely online, the benefit increases to 107x.
When you support local businesses your money recirculates in your community, creating a multiplier effect. Dollars spent locally are re-spent locally through employee salaries, taxes, charitable contributions and supply chain management. This money helps support workers, improve city amenities and infrastructure, and improve the quality of life of all Tri-Cities residents. In addition, local businesses spend up to 30.1% of their revenue on BC products and services. When you choose to support a locally owned business in the Tri-Cities, your money penetrates far beyond that store and deeper into the community.