Keeping it Canadian: Why Supporting Local Business Tools Matters
In today's globalized world, it's easy to turn to multinational corporations for business tools and services. However, the importance of supporting local Canadian businesses cannot be overstated. Let's take a closer look at why Canadian small businesses should consider using tools and services provided by other Canadian small businesses.
1. Economic Impact:
Canadian small businesses are the backbone of our economy, accounting for 97.9% of all businesses in the country. These businesses contribute significantly to job creation, with small and medium-sized enterprises (SMEs) employing over 70% of Canada's private sector workforce.
Did you know that there are approximately 200,000 Canadian small shops on platforms like Etsy (a US owned competitor)? These businesses collectively pay millions of dollars in fees to non-Canadian platforms annually. Imagine if that money stayed within Canada's borders, contributing directly to our economy. By utilizing tools and services from Canadian businesses, we can keep more money circulating within our communities and support local growth. If the average small shop sold $10,000 on Etsy with the average fees being 14%… the number is HUGE! It’s $280,000,000 in fees that we are assuming Etsy collects from small Canadian shops/year. If that money was spent here in Canada, that's an additonal $184,800,000 that would be put directly back in to the Canadian economy. These are pennies we are talking about!
2. Testimonial: The Virtual Market
"The Calgary Virtual market was such a huge huge success, as a maker I was so grateful to Sally and all her time and effort. After the holidays we were all thankful and were encouraged to hear that Sally wanted to continue the Virtual market but with some changes. I happily joined for a nominal fee. I'm not sure when Sally first told us of her idea of creating a website with an algorithm which shows the customers local makers in close proximity to their postal codes. Right from her first description I was "all in". Her idea was to encourage shopping local, keeping our money in Alberta and also providing local artisans and makers with a safe space to collaborate, make friends and have a place to sell our handmade items. There was something about Sally that just made me trust her, I admired her vulnerability and honesty. She has a deep genuine love of creating a community."
This testimonial from a member of The Virtual Market exemplifies the impact that local initiatives can have on small businesses. By supporting platforms like The Virtual Market, which prioritize local connections and community building, Canadian entrepreneurs can access resources tailored to their needs and contribute to a stronger, more resilient economy.
3. Promoting Canadian Values:
When Canadian businesses support one another, they reinforce values such as community support, sustainability, and national pride. By choosing to work with fellow Canadian entrepreneurs, businesses align themselves with these values and contribute to the overall well-being of our nation.
Moreover, supporting Canadian businesses fosters innovation and entrepreneurship within our borders. It encourages the development of homegrown solutions to local challenges, driving economic growth and creating opportunities for future generations.
4. Building a Stronger Future:
As demonstrated by the success of initiatives like The Virtual Market, investing in Canadian business tools isn't just about short-term gains—it's about building a foundation for future growth and prosperity. By nurturing local talent and innovation, we can create a business landscape that is both vibrant and sustainable for generations to come.
By keeping our economic resources within Canada, we can reduce our dependence on foreign markets and insulate ourselves from external economic shocks. This resilience is crucial for maintaining stability and prosperity in an increasingly interconnected world.
In conclusion, the decision to support Canadian small businesses isn't just about patriotism—it's about making a tangible impact on our economy, our communities, and our collective future. By choosing to work with fellow Canadians, we can build a stronger, more prosperous Canada for all.
