Ryan Mallough
Vice-President of Legislative Affairs at CFIB
The summer tourism season is as important as ever for small businesses across the country, but skyrocketing fuel prices and consumer cost pressures are putting a damper on optimism as we head into the biggest travel months of the year.
According to CFIB research, most (84 per cent) of small business owners say they are concerned that higher fuel costs could put a chill on Canadian travel and spending plans this summer.
But even if more Canadians choose to stay a little closer to home, there’s still plenty of opportunity to get out and explore and support local communities. Various studies suggest that the Buy Canada sentiment remains strong and domestic travel will be at the core of Canadians’ travel plans this summer. That could present a real opportunity not just for travellers looking to discover local gems, but also for the small, independent businesses that drive Canada’s economy.
Local spending goes further than people think – 66 cents of every dollar spent local, stays local. If you’re shopping at a multinational retailer, only 11 cents are recirculated back into the local economy, and even less – eight cents – when shopping at online giants. If consumers do keep more of their loonies local this summer, it could be a big boost for small businesses.
To help support local businesses and encourage local shopping this summer, CFIB is bringing back its #SmallBusinessEveryDay Big Thank You Contest from June 29 to July 13. The contest invites Canadians to thank their favourite small businesses for the role they play in their communities.
Each week, one supporter and the business they thank will be selected as winners. Supporters can win $1,500 to spend locally, while businesses can receive $4,000. At the end of the contest, the business with the most nominations will receive a $4,000 bonus prize.
This summer, supporting Canadian doesn’t have to mean travelling far. It can be as simple as choosing a local restaurant, paying a visit to an independent bookstore, or thanking a small business that makes your community feel like home.
For more information on how to support small businesses or to enter the contest, visit SmallBusinessEveryDay.ca.
