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Canadian Federation of Independent Business says holiday season a key time for local retailers

The holiday shopping season is in full swing in Prince George and consumers are reminded to support their local shops and small businesses.

This week the Canadian Federation of Independent Business and LOCO BC is recognizing the 12th annual BC Buy Local Week.

CFIB BC Policy Analyst, Emily Boston said there is a much greater trickle-down effect towards the local economy when people support small businesses.

“When you spend a dollar at a small business in your local community, about 66 cents of that dollar is recirculated into the local economy whereas just 11 cents is put back into the local economy if you buy from a multinational business such as Walmart.”

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“In addition, only eight cents stays local when a purchase is made with an online giant like Amazon.”

Boston noted the next four weeks often can make or break a small business’s financial outlook for the entire year.

“The holiday shopping season for many retailers is where they get the majority of their revenues for the year. So, many of them rely on and are counting on the holiday season ahead to make sure the business ends in the black.”

“Many people recognize that shopping locally is a fantastic way to support their friends or their neighbours and certain small businesses but they don’t recognize that there is massive tangible benefits to their own community and surrounding (areas).”

This comes off the heels of Downtown PG hosting its Plaid Friday event where residents were encouraged to support the 100 retailers who call the downtown core home.

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