Money in­jected in shops helps town

Gatton Star - - TOWN PROUD -

THE past two decades have seen sweep­ing changes take place in many Aus­tralian com­mu­ni­ties as shop­ping malls have dis­placed countless lo­cal shops, with dev­as­tat­ing ef­fects on many ru­ral towns.

A con­tribut­ing fac­tor is that money spent in shop­ping malls usu­ally goes out­side the com­mu­nity and, in many cases, out­side the coun­try.

By con­trast, money spent lo­cally usu­ally stays lo­cal. ‘Buy lo­cal first’ is es­sen­tially vot­ing with your dol­lars for a healthy lo­cal econ­omy, with many ben­e­fits for lo­cal peo­ple.

Ac­cord­ing to the Aus­tralian Bureau of Sta­tis­tics, small busi­nesses rep­re­sent 96.5 per cent of pri­vate sec­tor busi­nesses in Queens­land and ac­count for more than 50 per cent of all pri­vate sec­tor em­ploy­ment and cre­ate more than 50 per cent of new jobs. Small busi­ness is re­ally im­por­tant for our com­mu­nity.

Money spent at lo­cally owned busi­nesses cir­cu­lates longer in the lo­cal econ­omy, in­creas­ing the eco­nomic mul­ti­plier, in­stead of fly­ing out of the re­gion to dis­tant share­hold­ers.

Stud­ies show that for each $100 spent in a lo­cal busi­ness, the lo­cal econ­omy ben­e­fits by $60.

But if that $60 is again spent in the lo­cal econ­omy, and so on, the cy­cle is per­pet­u­ated, so the eco­nomic ben­e­fits of that orig­i­nal $100 spend can be many times the orig­i­nal value.

Un­like their cor­po­rate ri­vals, lo­cal busi­nesses have a vested in­ter­est in the com­mu­nity.

For them it’s a life­style choice to live in our re­gion, to run a busi­ness here, to em­ploy lo­cal peo­ple and to care about their com­mu­nity, which is all our com­mu­nity.

Lo­cal busi­nesses keep our lo­cal econ­omy thriv­ing and they make our re­gion more in­ter­est­ing.

When you shop lo­cal it’s a sound con­sumer choice – you are choos­ing to in­vest in the eco­nomic fu­ture of your com­mu­nity for you and your fam­ily.

Buy lo­cal and make your com­mu­nity grow.

Lo­cal busi­nesses keep our lo­cal econ­omy thriv­ing and they make our re­gion more in­ter­est­ing

— Som­er­set Busi­ness Al­liance

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