Supporting small businesses creates positive economic impacts

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Supporting locally-owned small businesses has significant positive economic impactseven before our world was struck with the COVID-19 pandemic.

Meher Kashif Younis, former senior Vice President Lahore chamber while talking to a delegation of young educated progressive women led by Ms Noora Ahmad from Sialkot here on Sunday said It’s important that we continue to support our communities and look to our local small business for the essentials we are purchasing.

He said spending locally ensures that your sales taxes are reinvested in the local economy, which results in improvements in the community. Highlighting his point of view, he said 100 rupees spent at locally-owned businesses is reinvested into the local economy through wages, goods and services, profits, and donations.

He said women entrepreneurs and minority-owned businesses hire more people of color and pay higher wages than larger national chains.

He stressed the urgent need of focusing on the improvement of the locally manufactured and assembled products at par with national and global standards to attract local and foreign buyers besides fully encouraging buying made in Pakistan rather than foreign products.

He said our people are patriotic and always loved buy Pak products even if it at least meets national standards.He said prime minister in prevailing economic crunch clamped ban on imports of luxurious items to avert further loss and now its high time for people from all strata of the society to only buy indigenous products which definitely encourage local investors.—APP

 

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