Why does every dollar spent in your local community produce a massive windfall for your local community?
It’s an amazingly simple issue that is often overlooked by us, but every time you spend your hard-earned money within your local community it brings a HUGE WINDFALL to the community as a whole.
Imagine this, you earn your salary in Brisbane, you live in Kenmore.
- You use a Pool Cleaning Company based on the Gold Coast.
- You get home delivery of Groceries from a company in Toowoomba.
- You use a hair salon in New Farm.
- You regularly go to restaurants in Milton.
- You use a Law Firm in Sydney.
- You use a Financial Planner in Springwood.
- The Electrician you use is in Ipswich.
- The Plumbing firm you use is based in Logan.
Every time you spend $1, how much of it returns to the Kenmore Community?
If you focused on spending your hard-earned in Kenmore with Local Businesses, the outcome would be a considerably healthier local business community, would it not?
Less vacant units, more local jobs available, better service provision and more convenience when you need it.
In fact, the studies show that this is a massive Community Issue.
It’s even more relevant when you compare local independent businesses against big box chains.
“On average, 48 percent of each purchase at local independent businesses was recirculated locally, compared to less than 14 percent of purchases at chain stores.” says AMIBA, an American organisation that has studied the Local Multiplier Effect.
The difference between 48% and 14% is 221.43%. — that’s huge and is a compounding figure every year that goes by.