Moncton NB, July 15, 2024 – This summer, Atlantic Canadians have an important opportunity to make a meaningful impact on their local economy by shopping at small businesses, planning local vacations, and supporting community-based vendors. According to the Canadian Federation of Independent Business (CFIB), for every dollar spent at a small business, 66 cents stays local, compared to only 11 cents at large multinational retailers.
“Our communities thrive when we support our local small businesses,” said Louis-Philippe Gauthier, CFIB Vice-President for the Atlantic Region. “This summer, every choice to shop, dine, or vacation locally helps maintain the unique character of our towns and ensures that our money stays within our region, sustaining our local small businesses.”
Research from CFIB also finds that Canadians often underestimate the impact shopping local has on their community. “Consumers typically believe that 37 cents out of every dollar spent at a large retailer remains within the local community. However, the reality is that the actual amount is significantly lower”, added Gauthier. This discrepancy highlights the need for greater awareness of how different types of purchases affect the local economy.
This summer, Atlantic Canadians have a unique opportunity to support their region:
CFIB’s #SmallBusinessEveryDay campaign, sponsored by Scotiabank, Interac Corp., and Chase Payment Solutions, continues to encourage Canadians to support independent businesses. This summer, celebrate the local businesses that make Atlantic Canada special and post your amazing experiences on your favorite social media channels.
Read CFIB’s 2023 report: Small Business, Big Impact: Small Retailer’ Local Contribution.
Frederic Gionet, CFIB
506-866-5548
frederic.gionet@cfib.ca
The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small- and medium-sized businesses with 97,000 members across every industry and region, including 10,200 in Atlantic Canada. CFIB is dedicated to increasing business owners’ chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at cfib.ca.