The aim of the Local Suppliers Award is to retain the wealth produced in the local economy, strengthening the community by supporting other local businesses.
In this Award, we divide suppliers into those that are producers, and those that are agents or wholesalers. These are our definitions:
% of cost that remains local | |
---|---|
A Local Supplier | 50% or more |
A local Agent | less than 50% |
Points are awarded to a business for the following:
“Every time you spend a pound locally, 62p disappears from the local community. Economists call it capital flight. I call it financial rape.”
John Ranford, CEO, Future Friendly
Check out local businesses which are enhancing the local economy by looking for this icon on our guide and map. Or if you are a business, get listed and support your locality.