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Family Owned Shops Greatest Supporters Of Irish Economy, According To RGDATA Report

Published on Feb 10 2016 10:46 AM in Retail tagged: Featured Post / RGDATA / SMEs

Family Owned Shops Greatest Supporters Of Irish Economy, According To RGDATA Report

Family owned shops are the best supporters of Ireland, according to the Local Heroes II report published by RGDATA.

The report, which was carried out by economist Jim Power, found that local independent family owned shops invest €3.62 billion annually in the national economy and support 90,000 jobs.

Furthermore, these shops pay over €100 million in commercial rates and invest €41 million in local sponsorship every year.

Power commented, "If you spend money in these local shops it is worth three times more to the local community. People that want to live in vibrant local communities should be supporting Irish owned shops.

"Every €100 euro spent in a locally owned shop results in an injection of €250 into the local economy," he added.

The economist also said that family owned shops are major employers in the local economy, giving many people their first job.

"They are the most significant employers in the retail sector with 89% being paid above the National Minimum wage," he stated.

The report was based on research carried out with RGDATA members who own 4,000 shops, convenience stores and supermarkets around Ireland.

© 2016 - Checkout Magazine by Brian Dermody

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