Published on Dec 17, 2018
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Choosing to shop local is always a great investment into your community. Buying local this Christmas has a direct impact on the viability of our region’s economy as well as jobs.
If local residents could consciously invest their Christmas spend towards local businesses, the combined impact of this spend could be exponential.
What $50 can mean to the community
The Economic Development Unit at Cessnock City Council chose four sectors within the local economy and ran an economic impact scenario to demonstrate what could happen should residents be able to allocate $50 of their Christmas spend to these sectors locally.
The four sectors are those which would usually see some form of holiday spending:
- retail (Christmas gifts and groceries),
- food services (cafes and restaurants),
- arts and recreation (handmade goods and artisan gifts) and
- construction (home improvements.)
If residents ensured just $50 of their normal holiday spend made it to local businesses in these four sectors, it would have the potential to add up to 91 jobs for our local economy and withstanding all economic multipliers including direct, supply-chain effects, and consumption effects the direct revenue increase for the region could be $8.613 million!
Aussies planned to spend $955 on average over the 2018 holiday season according to the Commonwealth Bank, XMAS Spending Survey.
The message for local people is clear: buy local, utilise local supply chains where possible, take advantage of the innovation and knowledge capital we have within our region.
A small spend of $50 to a small business within our local community is an easy way to contribute to our region’s bigger picture economy.
“Don’t leave the region to hunt out generic Christmas gifts, we have so much to offer locally,” says Rhiannon Stevens, Acting Economic Development Manager. “Search out hand made products, gourmet gifts and unique local crafts in Wollombi, Lovedale or Pokolbin.”
“Help your community grow by putting money back into the local economy and contributing to a vibrant and sustainable business environment.”
Buying local supports local businesses
Supporting locally owned and operated businesses in our region supports business owners to provide local employment opportunities.
If you bought just your Christmas ham from your local family owned butcher in Cessnock, Weston, Branxton or Kurri Kurri, you not only support that family business, you might support job creation in your community.
The benefits of buying local extend to everyone in the community and as demonstrated by the economic multipliers, can have far reaching impacts.
A little Christmas cheer spread locally this year has the potential to reverberate in impactful ways for our whole community for years to come.
All figures and data used to conduct the economic impact assessment are based on official data sourced from the Australia Bureau of Statistics (ABS). The region-specific economic impact modelling is used that was first developed at La Trobe University, with continued development by REMPLAN.