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Spend your holiday shopping dollars local this year:
According to research from LOCO (a local non-profit business alliance) BC local businesses create more than double the economic impact of their big box competitors. They re-circulate 2.6 times more revenue in the local economy than chains
- Local retailers re-circulate 45% compared to 17% for chains
- Local restaurants re-circulate 65% compared to 30% for chains
- Local suppliers re-circulate 33% compared to 19% for chains
For every $100 spent with a BC local business, $46 is re-circulated back into our BC economy (vs $18 for multi nationals). This is because locally owned businesses circulate more dollars in the community compared to multinational organizations.
On top of recycled revenue, when you spend with a local business, you increase job opportunities as well. For example, if we shifted just 1% of consumer spending in BC annually, we’d create 3100 more jobs, that’s $94M in annual wages for BC workers.