Buying Local Matters

Did you know that buying an item as simple as bread from a local business in BC has 5 times the economic impact than bread from a multinational company? For every one of your dollars spent on bread, $0.59 is recirculated into the local economy if it is locally made bread bought from a local business, compared to only $0.12 recirculated from Canadian bread bought from a multinational company. 
 
Bread is only one example–clearly, spending your money locally has a huge impact on our local economy and community. Therefore, we encourage you to join us in taking the 2022 Buy Local Pledge to make a 10% shift towards spending your dollars at local businesses. A 10% shift from the majority of our community would have a huge impact on the Greater Victoria economy, but most importantly, by pledging to actively shift our spending to local businesses, we transform buying local into a habit for our daily lives. 
Country Grocer
Dutch Bakery & Diner

Why is spending locally important and why is it beneficial to you?

 

When you choose to spend your money locally instead of at multinationals, local businesses have a much bigger impact on the local economy and community as a whole: 

  • Local businesses create 4.6 times more impact than multinationals by recirculating $63 of every $100 back into the local economy, compared to just $14 by multinationals 
  • Local businesses employ 1.1 million BC residents, creating 4 out of 10 jobs 
  • Local businesses make 31% of their purchases from other BC businesses, meaning they are less likely to face global supply chain shortage issues 
  • Local businesses create 8 times more jobs and revenue per square foot than multinationals 
  • Local businesses give 24 times more per dollar of revenue than multinationals, contributing to local causes, fundraisers, sports teams, and event