The Regional Economic Multiplier Effect estimates that £1 spent locally with another local business will be spent with a further 5 or 6 businesses, each benefiting from the £1… therefore being worth £6 or £7 to the local economy.
Spending that £1 with a large organisation with routes elsewhere means that it goes straight out of local circulation and into a different economic eco-system, having a minimal impact locally.
The Federation of Small Businesses started a campaign a few year’s ago and this summer the local Thames Valley Region plan on re-engaging with its core message by running…
KEEP TRADE LOCAL CHALLENGE – 29th July – 4th August 2013
Join our Challenge to buy local for 1 week and win £300
It’s simple just shop from, and use, local businesses from the 29th July – 4th August…
From butchers, bakers, local markets, independent builders, farmers markets and local pubs etc…
The shops and businesses need to be local and independent to qualify.