Libro doling out $17.5K for employees to ‘buy local’

A woman pays for an item at a business. File photo courtesy of © Can Stock Photo / Leaf

A London-based credit institution is challenging southwestern Ontarians to buy local in a bid to help businesses struggling throughout the COVID-19 pandemic.

Libro Credit Union announced the Loyal 2 Local Challenge on Thursday. In order to start the wave of support for local businesses, Libro is giving each of its 700 employees $25 to spend at an independent shop of their choosing. The employees are asked to post a picture of their local purchase on social media, tagging Libro and using the hashtag #Loyal2LocalChallenge.

The credit union hopes the social media challenge will not only start a conversation about local businesses, but encourage others through the region to make a purchase at their favourite shop.

“We know many people are already supporting local businesses during the pandemic and we want to encourage more to join in and everyone to talk about it,” Libro Brand Specialist Emily Strybosch said in a statement. “It’s all about making the choice to support local and asking others to do the same thing. It makes sense for the local economy, too, because money spent in local businesses keeps more of our resources in the area.”

According to figures released by Libro, independent businesses pump 4.5 times more money into the local economy than their multinational counterparts and produce 8.4 times more jobs per square foot.

Anyone can join in the #Loyal2LocalChallenge by posting an image of their local business purchase on socials and tagging Libro.

The challenge will run for two weeks, ending on June 5.