There’s a bit of maths that says if you spend £10 in a local shop that sells stuff from local producers the amount of money that goes back into your local economy can be over £50!
Well if you imagine that when you buy a locally-made pie from a local shop, a big part of your money is passed on to the local piemaker. The shop employs a local accountant or even a decorator. In turn the piemaker who sources his meat from a local farm spends a big percentage of his money with the farmer. The farmer then spends some of his money at his local garage, the garage owner… etc. etc.
With each step, around 80% of each spend goes into the local economy. So in effect the money that stays locally increases locally.
The more everyone spends within our area the stronger our economy grows, which means more jobs, better facilities, a vibrant town centre and a nicer place for us all to live.
If there is more money swirling around your local economy then the better your local area will be, leading to more employment. In turn, this means more money in people’s pockets in the area, meaning that community projects and charities are more likely to be supported.
Which means there are more things to do and everyone feels better about their town. Local independent businesses are far more likely to use other local firms than any of the big national giants would – it’s what makes them tick and they know the true value of keeping it local. It’s also a lot easier! It’s not about protectionism, it’s about small decisions that have a big impact on where we live.
Ask you local butcher, baker, accountant, lawyer, mechanic, whomever how many local suppliers that they use – and you will soon see how you are affecting your local economy.
Only by following the money trail do you get a true sense of the knock-on effects of buying locally.
It takes you in all kinds of directions, ping-ponging from groceries and clothing, to tradesmen and accountants, each time adding to our economy.
The trail is staggering.
Turn that tenner into fifty quid for your town.
All that it takes is for each of us to make the conscious choice to shop locally and reinvest our hard earned money into our local community to improve it.
