There are more than 400,000 small businesses in Ontario. They employ over 3 million people, making up almost 70% of private-sector jobs.
They range from corner stores to high tech startups, from local farms to advanced manufacturing. When we hire local contractors, dine at local restaurants or buy from local breweries we are supporting our neighbours and building our community.
Beyond the feel-good community building, shopping locally has definite economic benefits. Studies suggest that each $100 spent at local independent stores, in turn, generates $45 of spending in the local economy. The same $100 spent at a U.S. chain store only leaves $14 in the local economy, with the rest of the profits going south of the border. Is that what we want? And it’s not just about circulating dollars; a strong local shopping area creates jobs and has a positive impact on local property values. Locke Street, Ottawa st, and James st North are all great examples of this.
So before you spend your hard-earned money, think about how you can spend it in the community you call home, and together let’s build a greater Hamilton