Empowering Small Business in Medicine Hat

I’d like to take a moment to recognize small, independent businesses. Of course, all businesses are needed, from Costco to the local candle maker. All businesses provide employment, contribute to our tax base, and prevent leakage to larger centers or the web. But at Community Futures Entre-Corp, we have a soft spot for the little guys. It’s the small businesses make our community more diverse and more enjoyable in which to live. They create the character and personality that is our city.

Once again COVID 19 puts pressure on the Alberta economy, small business in particular. On November 13, 2020, the Alberta government instituted targeted public health measures. Communities with more than 50 active cases per 100,000 people, became subject to enhanced public health measures to control the spread.

In the past six-months, we have shut down our economy, self-isolated and quarantined, we have worked from home, given up travel, and learned to use Zoom, Teams and Google Hangouts. We have re-launched, carefully stepped out of our homes to reintegrate into society, sent our children back to school and realized this pandemic is not a short-term inconvenience, but a long-term challenge.

What if I gave you a $50 gift card to your favorite restaurant? You could go for lunch by yourself and try to stuff two meals into your belly, but it’s more likely that you’d invite a couple friends for dinner and wine, and run up a bill of $150. The restaurant just multiplied a $50 gift card by 3x, much of which will be spent in the community buying cleaning supplies, local beer and paying for staffing. The restaurant staff will go and spend their tips as well. That $150 in revenue generated from a $50 gift card, and the money the restaurant ownership and staff spend as a result, is called the multiplier effect.