According to a recent study by the Canadian Federation of Independent Businesses, 75 per cent of small business owners reported 2020 as “the worst year ever for their business.” Supporting small businesses by spending locally has never been more needed. Businesses are trying to recover from the aftermath of the pandemic. The economic fallout continues to impact businesses, and the financial instability seems daunting to overcome for our entrepreneurs.
That is why the Atlantic Credit Union is bringing back a familiar campaign to show some love to local businesses during this difficult time. For the second straight year, the #Loyal2LocalChallenge campaign will challenge individuals to mend the economy by shopping at their favourite small business around the province. From restaurants to nail salons, this initiative shines a spotlight on some of Halifax’s favourite businesses.
As part of the challenge, every credit union staff member in Atlantic Canada has been provided with $25 to spend at a local business and post about their experience on social media channels using the hashtag #Loyal2LocalChallenge. This campaign ran from July 15th to August 15th, but supporting local businesses year-round is always encouraged.
The pandemic has created unwanted stress and Kate Steele, Brand Marketing Specialist at Atlantic Credit Union expressed the necessity of shopping local to alleviate a burden off small business owners.
“The urgency for the small business community in Atlantic Canada is to really step up now more than ever,” says Steele. “Small businesses are still closing their doors and will feel this impact for years to come and the best way we can get out of that quickly is to support each other, and that includes the business community showing their support as well.”
Through this challenge, their hope is to have a meaningful impact financially, inspire others to join, and more importantly ignite conversations by demonstrating the impact supporting local has on its economy. Together, we can fulfill a mission!
“Halifax and Atlantic Canada, by extension, is the backbone of our communities, and our economies are small businesses,” says Steele. “Supporting small local businesses — if we can continue to do that — is going to continue to contribute to the growth and prosperity of Halifax and HRM.”
Gabriele Brownstein, Marketing Assistant with the Atlantic Credit Union, agrees with those sentiments, and also adds the significance shopping locally contributes to not just the economy, but the community. “It creates wealth within the community because when you spend money at a local small business versus at a big box store, a lot more of that money will stay within the community and it creates new jobs, it adds new tax revenue, which then can continue to build the community.”
The effort to revitalize the economy and ignite the recovery phrase will be mostly led by local entrepreneurs, small business owners, and workers. If Atlantic Canada shifts 10 per cent of our spending to local businesses, we have the chance to create 43,000 jobs, $2.6 billion in wages, and $219 million in new tax revenues.
Halifax offers residents and tourists unique dining experiences, places to pick out a new wardrobe, and other friendly local shops who deserve your support. It’s not until we collectively spend locally that we can build a stronger community together.
As Brownstein puts it, “buying local is building local.”
Visit, https://honestmoney.ca/stories/loyal2localchallenge to learn more about the challenge and the impact it will have on your community. Also make sure to follow them on social media @Atlcreditunions to explore the businesses across your community who are being recognized and supported.
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