The Canadian Federation of Independent Business says there are misconceptions about how much of your money goes back into your community when you spend it at a local business.
Provincial Affairs Director, Brianna Solberg says they commissioned a survey from Angus Reid Group.
"When you shop at a small business, it's actually 66 per cent of your dollar that remains in the community, opposed to just 11 per cent of your dollar that stays in the community when you shop at a big box store," says Solberg. "Up to six times more of your dollar is being used to support your local economy when you shop local."
According to the survey, people believed 37 cents of their dollar stayed locally when spent at a big box store, more than three times higher than the actual number. Also, respondents believed 38 cents of a dollar stayed locally when spent at a small business -- a number that is almost half of the actual number.
"We often see large retailers making donations or contributions, and we don't see a lot of the little things that small businesses do to support local, like hire local apprentices, support local hockey teams, or make contributions to local food banks," says Solberg. "It's ultimately a larger percentage of their income that they're pouring back into the community."
She says big box stores are making a lot more money, and while their contributions may go a bit further, the value of a small business owner's dollar is a higher percentage of their overall income.
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