Locally owned businesses are more likely to recirculate your purchase dollars into payments to other local suppliers. Economists call this a “multiplier effect,” because it steers more jobs and revenue into our own BVI community. Several recent studies have found the multiplier benefits of local businesses to be up to three times those of non-local businesses.
A recent retail diversity study found that purchasing from locally owned stores created about 70% more local jobs, and 67% more overall local income, per dollar spent.
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Is more fun with unique, personalized offerings. You get to know your merchants, who select their products with the needs and tastes of the local community in mind. You get personal attention. You feel connected. Local independent businesses know our local market and are more responsive to our local market. Customers are merchants’ friends and neighbors.
Keeps dollars in our economy. Spending locally ensures reinvestments right here in our BVI community. Of every $100 spent at an local independently owned store, $68 stays in the community. That makes our BVI community more economically resilient!
Ensures the BVI is a unique destination. Local independent businesses makes us special and gives us a strong sense of place and love for our city. The more unique we are as a country, the more we attract visitors, which benefits everyone.
Is more environmentally friendly. Buying locally often means you can support conveniently located and accessible shops. Less importation and shipments on planes and ships from overseas can cut down on carbon emission.
Strengthens our community. Local businesses donate money back into the community. US-based companies do nothing for our BVI communities. They give nothing back. They have a vested interest in their own US community.
Leverages local expertise. At Island Services (BVI) Ltd., we are passionate about what we do and are eager to please. Why not take advantage of it?