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Magic Tenner initiative will aid the Stroud economy

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Stroud & District Chamber of Trade & Commerce are running the Magic Tenner campaign in the Stroud District, with more than 40 high street businesses already taking part.

Running from Saturday, October 7 to Saturday, October 21, the Magic Tenner campaign highlights the difference spending money in local, independent businesses makes to the local economy.

There are already 42 businesses taking part in Stroud, Nailsworth, Wotton-under-Edge and Dursley; highlighting the number of other local businesses they use regularly. 

The “Plugging The Leaks” study from the New Economics Foundation explains how money spent in local, independent businesses often keeps circulating in the local economy, showing that spending just £10 in one of those businesses can be worth as much as £50 to our local economy. This is because studies show local, independent businesses spend with other local, independent businesses, rather than elsewhere or the money being sent abroad or to a Head Office somewhere far away.

To help get that journey started, many participating businesses have published special £10 Magic Tenner promotions to help get that journey started. Offers range from eating out to gifts, feed for wildlife to essentials and fashion.

Tony Davey, Chairman of the Stroud & District Chamber of Trade & Commerce said: “The number of national businesses leaving our high streets, many due to national strategies or complete collapse, cannot have gone unnoticed. What can be easily overlooked is that independent businesses continue to weather these challenges and remain stalwarts of our towns and communities.

“This makes the timing perfect, as participating businesses are showing a poster to indicate how many local, independent businesses they and their business use. This helps highlight what is available in our towns, something many social media commentators often overlook. When I sat town to count how many I use it was quite an eye-opener, as it has been for many of the participants. From local accountants and window cleaners to where we purchase our stationery or buy our lunchtime snack, it quickly adds up.

“Feeding our local economy supports local jobs, supports local opportunities, supports our local communities and a thriving town makes it a better place to live, work and visit. Spending money with national retailers or online marketplaces elsewhere simply doesn’t have the same impact, by a long way.

“Our local businesses are more than just a shop, a pub, a restaurant or an office – they are places to gather, interact and offer a vital part of life for those who are vulnerable or isolated. This is magnified where someone has little options to travel afar and rely heavily on excellent service and value for money.”

You can see the full list and details of participants at www.VisitStroud.uk/Magic. The Magic Tenner campaign is a national campaign led by Totally Locally and supported by BIRA, the British Independent Retail Association.

Links:
https://VisitStroud.uk/Magic
https://totallylocally.org/magic-tenner/

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