Despite Canadians' professed love for local small enterprises, a staggering gap exists between their sentiments and shopping actions, significantly impacting these vital community cornerstones.
According to a revealing CFIB report, "Small Business, Big Impact," an overwhelming 92% of Canadians cherish local businesses, yet a mere 13% consistently patronize them.
Instead, large multinationals receive the bulk of Canadian consumer spending, a trend that starkly contrasts with the public's expressed appreciation for community shops.
This paradox isn't just disheartening; it's economically detrimental. Taylor Matchett, CFIB's senior research analyst, highlights a critical misunderstanding: shoppers underestimate the significant local economic infusion generated by small retailers compared to giants. Astonishingly, spending at a local store, such as at a small farm, recirculates six times more within the community!
Furthermore, small enterprises aren't just about economics; they're community pillars. An impressive 97% contribute locally, with charity donations, event sponsorships, and youth job creation leading their community initiatives.
Recognizing this, CFIB's #SmallBusinessEveryDay campaign, supported by Scotiabank and Interac Corp., encourages a monumental shift towards supporting local gems. With incentives like the Big Thank You Contest, both consumers and businesses get rewarded, fostering a community spirit and economic resilience. Click here for more information or to enter the Small Business Every Day campaign.
These enterprises aren't just stores; they're the lifeblood of communities, providing unique goods, personalized services, and local employment. By adjusting our shopping habits, we don't just support a store; we bolster an entire community. So, let's embrace and revive our local small businesses. The time to act is now!