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Oct 23, 2023

Canadians unaware of small business local impact

A majority (78 percent) of small retailers say they're losing revenue and customers to big businesses, says a report by the Canadian Federation of Independent Business (CFIB). The report, created in partnership with Scotiabank, entitled ‘Small Business, Big Impact: Small Retailers' Local Contributions,’ reveals that over nine in 10 Canadians (92 percent) love having small businesses in their community, but only 13 percent do most of their shopping at small businesses. Instead, most people (87 percent) do the bulk of their shopping at large multinational retailers, either in-store or online. 

"Despite the many contributions that small businesses make to their communities, most consumers don't support them on a daily basis even though they recognize the importance of shopping local. There are many misconceptions among consumers, including that small retailers and multinational businesses contribute to local economies equally. In fact, when you shop at a small, independent retailer, six times more of that money stays in your local economy than when you shop at a large multinational retailer," says Taylor Matchett, CFIB's senior research analyst and co-author of the report. 

The report says nearly all small retailers (97 percent) contribute to their community or province in at least one way – the top ways they do so include donating to charities and causes (74 percent),

sponsoring local events and teams (56 percent), and providing job opportunities for youth (55 percent). 

To encourage Canadians to shop local, CFIB has brought back its ‘Big Thank You Contest’ where small business supporters can enter the weekly draw and leave a thank-you note to their favourite small Canadian business.  

For more information, visit Business owners can download CFIB's digital toolkit, including a printable poster and customizable social images, to promote local shopping. 

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