Helping local businesses get off the ground is my passion as this creates economic benefit for not just them but 6 or 7 other businesses… this is known as the Regional Economic Multiplier Effect.
The Regional Economic Multiplier Effect estimates that £1 spent locally with another local business will be spent with a further 5 or 6 businesses, each benefiting from the £1… therefore being worth £6 or £7 to the local economy. Spending that £1 with a large organisation with routes elsewhere means that it goes straight out of local circulation and into a different economic eco-system, having a minimal impact locally.
Ever the optimist, it would be great to be part of an eco system where this sort of mentality was predominant…
We moved to Sidmouth in 2016 and I’ve been doing some regular work for Phil the Barber…
I spend most of my time these days helping a local company, Winning Tenders, the CEO of which I first new from when we lived in Berkshire. We help businesses write tenders and with increased accountability, our tender writing skills are in great demand.
I am happy to feature stories about local companies and people living The Regional Economic Multiplier Effect as part of this blog.