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Reg Warkentin: COVID-19 helps us appreciate the importance of business

If you want to take a look at the bright side of COVID-19, take a moment to appreciate the invaluable goods, services and contributions local businesses provides our community.
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If you want to take a look at the bright side of COVID-19, take a moment to appreciate the invaluable goods, services and contributions local businesses provides our community.

Like the Eighties rock ballad, many of us just “don’t know what you got till it’s gone.”

Since the health measures were implemented and “non-essential” businesses were shuttered to the public, it has become apparent just how much we rely on our local businesses.

This is beginning to change as Alberta’s relaunch strategy begins, but often, at great cost to the business.

Imagine someone who requires their glasses to see loved ones to do everyday tasks, yet is unable to do so because a cracked lens or a nose piece is out of alignment and causing major discomfort.

Or, an individual with sciatica is unable to function because they can’t see their chiropractor or physiotherapist.

Arguably less pressing, people are unable to get clothes, buy books, get a haircut or purchase their favourite beverage from the local cafe or pub.

When the Canadian Chamber of Commerce partnered with Statistics Canada to do a survey, it found that 58 per cent of Alberta businesses experienced a revenue decline greater than 20 per cent.

Not only do our local businesses provide vital services, but they provide important employment opportunities to close to 70 per cent of our workforce.

The situation is, in fact, so bad that of the 19 million Canadians who comprise our workforce, seven million of those have filed for the Canada Emergency Response Benefit, which is available to those who have stopped working for reasons related to COVID-19.

Here in Red Deer, we claim the unfortunate title of being the region of Alberta with the highest unemployment rate.

The flip side of this is that when the economy is roaring, Red Deer claims Alberta’s lowest unemployment rate, and we know that 70 per cent of this is thanks to our small businesses.

It is important to remember the definition of a local business isn’t as clear cut as one might think.

In fact, many of our big-box stores, and national, or even international restaurants, are locally owned and operated franchises.

Similarly, those run by corporations headquartered in Toronto or the United States are among those companies providing the other 30 per cent of jobs, and providing many of the essential goods and services many of our households rely on.

They all pay tens, or even hundreds, of thousands of dollars in property taxes toward municipal services.

I am sure they don’t exist, but I’d love to be corrected to learn about any kids’ soccer teams or Rotary fundraisers and the like that are supported by Amazon.

A recent study demonstrated that for every $100 spent locally, $68 stays local, compared to just $43 from a global company. That works out to 60 per cent more money staying in our local economy.

More bright side is that many of our local businesses either created or expanded their online presence for takeout and delivery, an effort that will serve them well into the future after the crisis concludes.

I believe most people in central Alberta understand the importance of supporting local. Be that as it may, that importance has been greatly exemplified throughout this pandemic.

Reg Warkentin is policy and government affairs manager with the Red Deer & District Chamber of Commerce.