why buy local
To put it simply, when you buy local more money stays in the community.
Research in Canada and the U.S. has shown that money spent with local business generates almost 5x more revenue than chain competitors. For example, a study conducted in British Columbia found that, for every $100 spent with a BC local business, $63 was re-circulated back into the BC economy (vs $14 for multinational corporations). That means they re-circulate 4.6 times more revenue in the local economy.1
That doesn’t mean you should never shop at a chain or big box store. In our age of globalized trade and interconnected supply chains, it’s not practical or possible to only shop local (even the term “local” can be confusing!)2 But, as Canadian politicians are urging in the wake of COVID-19, 3 making a point of supporting the small businesses in your community ensures money keeps circulating in your community, which promotes job growth, economic resiliency, and a stronger sense of belonging.
1 The Economic Impact of Local Businesses: A Study on the Local Recirculation of Revenue by B.C. Retailers and Restaurants. LocoBC. Dec 2019. https://www.locobc.ca/cpages/resources
2 Irshad, Humaira. Local Food: A Rural Opportunity. Government of Alberta. July 2010. https://www1.agric.gov.ab.ca/$Department/deptdocs.nsf/all/csi13484/$FILE/Local-Food-A-Rural-Opp.pdf
3 Lapierre, Matthew. COVID-19’s economic impact: Premier urges Quebecers to buy local, announces $2.5 billion for businesses. CTV News. March 2020. https://montreal.ctvnews.ca/covid-19-s-economic-impact-premier-urges-quebecers-to-buy-local-announces-2-5-billion-for-businesses-1.4860243?cache=%3Fot%3DAjaxLayout%3FautoPlay%3Dtrue
4 Robinson, Nandi and LaMore, Rex L. Why Buy Local? An Assessment of the Economic Advantages of Shopping at Locally Owned Businesses. 2013. Michigan State University Center for Community and Economic Development. https://ced.msu.edu/upload/reports/why%20buy%20local.pdf