The current crisis demonstrates again how important it is for economies to become more resilient. Local production for local consumption can sustain communities when things get rough. Jobs, social cohesion, trade and innovation – all these elements are interconnected. This could become an important argument for people to buy local. The Impact Multiplier boosts buying local. As soon as somebody buys locally through the Impact Multiplier network, the whole local supply chain gets better opportunities.
Support your local SMEs in a way that creates more income and jobs.
The consumer opens a regional bank account and transfers money from his/her euro bank account to his/her regional account. Once he/she uses the regional account he/she has secured that the money will “work” for the region for a minimum period of one year. A whole chain of local transactions has been started, which provides many SMEs the option to earn (and spend) locally.
The longer we wait to support vulnerable businesses, the fewer will survive. That would be a disaster, not only because your local pub will no longer exist, but because the more companies disappear, the more jobs will disappear with them, and the fewer income will be available to recover. This can easily start a downward spiral that sucks the whole economy into a deep depression.
When citizens and government cooperate, the downwards spiral can be broken and the local economy can be reinforced. Everyone can open a regional account and start spending! That is a major step to increase the local production for local consumption in order to increase the resilience. It also creates a strong base for recovery of the whole European and world economy.
Some people think buying local jeopardizes other communities. This is not true. In the end, the same amount of money that is entering the region, will still be spent in other regions. The only difference is that, before it left the region, it organized production and consumption in the region better. Making a more intensive use of the money available can make the regions flourish. It can improve the national economy and in the end the global economy. Resilience is about creating more choices, not to reduce options. In fact, the higher the level of economic activity. trade and production in a region, the more it contributes to the country’s tax income.
The Impact Multiplier provides communities a tool to optimize their local production for local consumption and create a strong base for mutual trade and cooperation.
Clearly, while the money circulates and serves the region, it cannot leave for the financial markets to be used for non-productive speculation.
Keep your favorite local companies alive by buying locally with the Impact Multiplier.