Data shows impact of money spent locally
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Hey there, time traveller!
This article was published 29/08/2023 (987 days ago), so information in it may no longer be current.
Sixty-six cents from every dollar spent at locally owned shops stays in the community, new data from the Canadian Federation of Independent Business found.
Comparatively, just 11 cents of each dollar spent at a multinational business stays locally, the CFIB reported Tuesday.
Canadians generally overestimate how much of each dollar they spend circulates locally when they shop at a multinational brand. On average, respondents to an Angus Reid Institute and CFIB poll believed 37 cents of each dollar stayed local.
Meanwhile, the 1,504 respondents underestimated how much money spent local stays local, believing 38 cents on average circulates is kept in the community.
The survey took place online from July 13 to 19 with Angus Reid Forum members. No margin of error can be prescribed.