The Economic Impact of Local Businesses
This 2019 research found that independent businesses recirculate up to 4.6 times more revenue than multinationals, keeping up to 63% of revenue in B.C. compared to 14% with multinationals. Independent businesses produce up to 8.4 times more jobs/ft2 & up to 8.1 times more revenue/ft2 than multinationals, and they spend up to 31.4% of their revenue on B.C. products & services from B.C.-based businesses. Independent businesses donate up to 24 times more per dollar of revenue to local charities that multinationals. Based on these results, 10% shift in B.C. consumer spending towards independent businesses would create 14,150 jobs & keep $4.3 billion in the B.C. economy.
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