What's Happening?
In Greater Victoria, local businesses are emphasizing the importance of community support during the holiday season. According to the Canadian Federation of Independent Businesses (CFIB), a significant
majority of Canadians value locally owned businesses, which are seen as the backbone of communities. These businesses contribute to local economic vibrancy and community pride. The CFIB highlights that 74% of consumers prioritize supporting their local community when shopping at small independent businesses. Local businesses not only keep money within the community but also support local charities, provide job opportunities, and contribute to community events. The CFIB study also found that 27% of consumers shop at local businesses due to shop local events, which enhance visibility and trust in these businesses.
Why It's Important?
Supporting local businesses has a profound impact on the community's economy and social fabric. When consumers shop locally, they help retain money within the community, which supports infrastructure, local charities, and community organizations. This financial support is crucial for community development and sustainability. Local businesses also offer job opportunities, fostering career paths for the youth and contributing to economic growth. Moreover, the trust and visibility gained through positive reviews and recommendations can significantly boost local businesses, ensuring their survival and prosperity. As Canadians plan to spend an average of $1,675 on holiday shopping, directing these funds to local businesses could greatly enhance the local economy.
What's Next?
During the holiday season, local newspapers in Greater Victoria will profile local businesses, highlighting the benefits of shopping locally. This initiative aims to encourage consumers to prioritize local shopping, potentially leading to increased community engagement and economic support. As consumers become more aware of the advantages of shopping locally, there may be a shift in purchasing habits, favoring local businesses over online shopping. This could result in a stronger local economy and more robust community support systems.
