On average, less than half the money you spend in a non-local business stays in your community. For locally owned businesses, more than two-thirds of your dollars stay.
And the proof is in the numbers. Small and independent business owners are mighty job creators. According to BC Stats, small business owners are responsible for 57 per cent of private sector employment, contributing to one-third of BC’s GDP.
Local businesses don’t just create jobs, they protect employees. Canadian Federation of Independent Business research shows that during the major economic downturn of 2008, big businesses shed far more employees from their payrolls than small business owners did.
CFIB’s 10,000 members in BC tell us they give back to their communities in other ways too: donating to local charities, sponsoring sports teams and supporting arts and cultural events.
Contributed by the Canadian Federation of Independent Business