Support the local economy
B4b is doing it’s bit to support the local economy by running a 12 week Buy Local, Support local campaign. With over two-thirds of the €5bn spent annually online disappearing overseas, B4b is encouraging its members to keep money in the local economy by promoting local goods and services. Research shows that for every €100 spent on locally sourced goods and services it is worth €500 to the local economy helping, to sustain jobs and businesses.
Local spending can increase by that much because the money circulates in the local economy. It is spent on locally-sourced goods and services and wages, which are also spent locally. This is called the multiplier effect, but when the spending is online and outside the country, then all of the money is just vacuumed up and leaves the country.
So the next time you are about to shop online please take a moment to check if you can source it locally and do your bit to help sustain Ireland Inc.