Potential spending is just ‘tip of iceberg’ of what can be achieved, says Scotland Loves Local chief
An extra £26.7m could be driven directly into Edinburgh’s economy if everyone in the city spent just £1-a-week more with local businesses.
The significant financial difference that can be made – safeguarding the future of businesses and protecting jobs – has been highlighted as part of Scotland Loves Local Week, which runs until Saturday (August 30).
The call to think local first is spearheaded by Scotland’s Towns Partnership (STP) – the organisation behind Scotland Loves Local – with support from the Scottish Government.
STP has calculated that, if every person in Scotland were to spend just £1 more per week with local businesses in their area, an additional £282.7m would be generated annually.
STP Chief Officer Kimberley Guthrie said: “The reality is that £26.7mm is the tip of the iceberg of what can be achieved in Edinburgh. If £1 more every week can make a transformational impact to the people who make our places, just imagine what is truly possible by choosing local even more.
“Money stays local for longer when you spend with local businesses.The multiplier effect is massive. These businesses spend with other businesses, who employ other local people, who then spend with other local businesses. Every penny spent is an investment in the future of your area.
“The jobs and livelihoods of your neighbours, friends and family depend on you doing so.”
STP champions the critical part that towns and local neighbourhoods play in creating a better Scotland and the need to invest in them.
Scotland Loves Local is the drive for people to build stronger, more sustainable futures for their community by supporting the businesses in their area.
Deputy First Minister Kate Forbes said: “Local spending is vital to the prosperity of our villages, towns and cities. It keeps people in jobs, businesses open and wealth in communities.
“The Scottish Government continues to work closely with Scotland’s Towns Partnership to drive forward the Scotland Loves Local campaign which aims to strengthen communities by putting localism and thriving town centres and high streets at the heart of a green, fair and growing economy.
“To create jobs and boost local economies we are also progressing our Community Wealth Building Bill which would, if passed by MSPs, encourage councils, NHS boards and other public bodies to buy more goods and services from their local businesses.”