Buying local? I do. For moral and ethical reasons, I make every attempt to support my community first. This is why…
Research shows that for every $100 spent in my community, $45 is retained within my community. This allows for:
- more jobs here
- more tax revenue being spent on local services
- a better standard of living here
I consider it my moral obligation to support my fellow city-dwellers before sending my money elsewhere.
Research also shows that for every $100 spent outside my community, only $15 is retained within my community. The consequences are:
- fewer jobs here
- less tax revenue being spent here
- a poorer standard of living here
I consider it ethical to support my fellow Dunedin citizens first. If, due to inferior service or quality, I cannot spend my money in Dunedin, I will then look to Otago or elsewhere in New Zealand.
My philosophy on buying local also extends to banking. Banking with a New Zealand-owned bank is a patriotic economic choice as it keeps profits, jobs and tax revenue in New Zealand and helps lift our standard of living.
An estimated 8 million dollars a day is sucked out of our economy by foreign-owned banks. I am glad to play my part by banking local.
As an ongoing series, I will write more about our local business-people, making an even greater case for the buy local choice.
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Tags: Buy local, buying local
