Local businesses enhance our community, connect and support us socially, and enhance wealth and employment by circulating dollars many times between businesses.
For every $100 spent with a local business, $46 is re-circulated back into our economy (vs. $18 for multi nationals). They re-circulate 2.6 times more revenue in the local economy as chains:
Local retailers re-circulate 45% compared to 17% for chains
Local restaurants re-circulate 65% compared to 30% for chains
Local suppliers (ex. office supplies) re-circulate 33% compared to 19% for chains
This is because locally owned businesses circulate more dollars in the community compared to multinational organizations.
Have owners live and provide jobs in your community
Provide more support for local events, sports teams and charities
Are more likely to buy local services and stock local products
Spending with a local business has ripple effects that contribute to the growth and health of the communities in our province.
You'll help create jobs in the community
Your tax dollars stay local
Small businesses give back to the neighborhood....
Shopping at one local business helps other local businesses....
Small businesses offer more unique products.
It helps keep communities diverse.
You get to know and interact with the business owner.
Who would you rather do business with?
A small company down the street who can respond to your needs quickly or a national company on the other side of the country where you get passed from person to person before getting your questions answered?
Local companies definitely have a home field advantage when it comes to winning business in their own communities.
Local businesses have been a staple of economies all around the world ever since people first began trading for goods and services. With the increase of large corporations and chain stores, many local businesses have closed down or sold their assets and ceased operations.
This is a problem on a number of levels, but economically, local businesses provide many advantages to the economy where they operate. Because of their advantages, it is important to patronize local businesses whenever possible to help preserve the local economy in our area.
One major advantage of local businesses to the local economy is that they typically employ a wide variety of supporting services that must also be obtained locally. For example, if a local business needs to add to its facilities, it will hire a local contractor.
Local businesses might also require the services of a tax preparer, cleaning service or other local businesses, which increases the amount of work for everyone in the local economy which helps in the growth of the local economy.
Small businesses also typically offer more locally produced goods than large chain stores do. If you have a product that you want to sell, like produce, you may find a local farmers' market that will allow you to sell it.
A chain store might purchase all of its strawberries from California or Florida, while you can sell yours right near your home. Because of this, individuals in the local economy are able to sell their goods and services at a local business, which benefits everyone in that area.
Another advantage of local businesses is that more of the money spent at a local business stays in the province. Canada has over 1.1 million small businesses, with over 37,000 of those companies operating in Manitoba. This provides a huge boost to other local businesses, workers and families in the local area.