Shop Local: The Impact of Supporting Local Businesses
We’ve all heard about the importance of supporting small businesses and shopping locally, especially when the holidays are quickly approaching. But did you know that utilizing local, small businesses for both goods and services benefits the community year-round?
In a Manitoba Business & Trade Magazine article penned by President & CEO of The Winnipeg Chamber of Commerce, Loren Remillard, he cites how small businesses are integral to having a functioning economy, supporting our communities and families and protecting our quality of life. Although the article was published a few years ago, the sentiment is more true today than ever before. From the positive impact local businesses have on the local community to their commitment to supporting other small businesses, smaller environmental footprint and more, the impact of working with local businesses in all industries should not be underestimated.
Why do small businesses matter?
One of the most impactful ways local businesses support our communities and the families in them is through the job opportunities they provide. In his Manitoba Business & Trade Magazine Article, Remillard states, “Across Manitoba, over 70 per cent of all private-sector employment comes from small business. From 2005 to 2015, small business accounted for almost 90 per cent of the 1.2 million private-sector jobs created across Canada.”
Local businesses also support our communities by sourcing supplies or other business needs from other local businesses. This continual reinvestment means that more resources remain in the community, rather than going to large, multinational corporations.
Additionally, small businesses are proven to be better for the environment. Buying supplies or using services from large, multinational businesses means more long hauls, more packaging materials and more travel, significantly increasing the environmental impact, compared to when local goods and services are utilized.
The economic impact of supporting local businesses.
Perhaps one of the largest benefits of local businesses to the communities they are in is their economic value. The fact of the matter is that money spent at local businesses stays within the community at a much, much higher rate than money spent at multinational businesses. In a recent article, the Winnipeg Free Press shared new data from the Canadian Federation of Independent Business, showing how an estimated sixty-six cents from every dollar spent locally stays within the community – a shocking six times the estimated eleven cents of each dollar spent at a multinational business.
As local businesses tend to work with other suppliers and vendors who are local, this money is continuously reinvested, benefitting the families who live in the communities time and time again.
Working with a local event team.
As a local Winnipeg business, we take pride in the positive economic impact we have on our community. From employing both full-time and local freelance talent to working with local venues and striving to work with vendors in our community, we see the positive impact of local, small businesses each and every day.
When clients choose to work with a local event team, they are not only getting the expertise of a production team that is well-versed in the venues, talent and local vendors in the area, but a team that is committed to working closely with clients and dedicated to bringing their event vision to life.
Are you ready to start planning your next event with a local Winnipeg event team? Contact the AVentPro team today so we can start bringing your vision to life! Email [email protected] or call us at (204) 226-5565.