Businesses are the backbone of our economy, the epitome of the UK high street and often encourage tourists to the area. But what you may not know is that shopping at a local business, rather than a large chain, is actually better for the economy of your community. To ensure a strong and sustainable local economy foundation people need to buy locally. Research shows that £10 spent with a local independent shop means up to an additional £50 goes back into the local economy. This is simply because the nearby shop owners, who you are spending your money with, will then put that money back into your local community by going into local pubs and restaurants etc, thus circulating the money and allowing your community to thrive.
Create local jobs
Shopping with and investing in local businesses means you can have a very strong and positive effect on the health of the local jobs in your area. Small, local businesses are surprisingly the largest employer of jobs nationally and provide the most local jobs to communities. Not only this, but local employers are more likely to pay a higher average wage than their commercial chain counterparts. Helping to grow the number of jobs in your area makes for a better place to live and work which then creates a healthy economy for the community.
Online is not always best
For many of us, we believe that the absolute best deals can only be found online. Through TV adverts, radio adverts and online adverts we are constantly shown great deals that seem too good to be true, and often this is sadly the case. However, you might be surprised to see just how competitive the prices are in your local shops and businesses. Find out what your local area can offer you first, before checking online.
You have the opportunity to revive our local economy by choosing where to spend your pound.