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Supporting local businesses has never been more critical than now. Truth is, we received a startling wake-up call that should force us to take a serious look at the future of brick-and-mortar and global e-commerce. No longer can we turn away from our local businesses to order online and then express sentiments when doors close. The time is here and the time is now.
Big box retailers are no doubt well-positioned to weather the corona-recession. In fact, the big dog, Amazon is predicted to increase revenues and has proposed to hire 100,000 new employees to meet demand. According to eMarketer Amazon realized an estimated $586 billion in retail sales in 2019.
By buying local you are investing in the community. For every $100 spent an estimated $73 is returned to the community. Local businesses buy from other local businesses and service providers. Their tax dollars support our schools, infrastructure, parks, and community programs and events. By supporting local you are single-handedly stimulating economic growth.
It is difficult to know what lies ahead but what is certain is we are much stronger when we are working together. Invest Medicine Hat and Invest Southeast Alberta once again, have brought together local economic, business and workforce development agencies to form an Economic Recovery Team. The team will be supporting local business by:
Lastly, if you have expertise in human resources, accounting and income tax, financial / investment planning, or government programs we need volunteers to lend a hand and help answer questions. Please info@InvestSoutheastAlberta.ca if you can assist.
Join the movement once again, support your local business today.
Last month we started a six-part series that will continue again at a future date. This article is written by Sandra Blyth, Director of Economic Development for the City of Medicine Hat.