During this tough economic recession, businesses everywhere are facing challenging times and our local traders are to be commended for rising to the challenge.
The Credit Union has revealed that around £5 million will be injected into the local economy by its members in the run-up to Christmas after the organisation reported another year of growth despite the testing economic times.
With a slightly higher surplus of just over £3 million and Christmas withdrawals by members expected to top £2 million, the Abbey Street Credit Union will be making a significant contribution to the city’s Christmas spending.
Far be it for anyone to tell savers how and where they should spend their cash, but the hope certainly is that the vast bulk of that money will be spent in local shops, restaurants and with other local service providers, for example fuel to heat our homes.
Christmas in particular is a lifeline for many traders struggling to survive during leaner times of the year, when the same rent, rates and other utility bills still have to be paid.
Jobs and livelihoods are at stake in all of this, so the motto really is, ‘shop local’.
That is not to say people shouldn’t take shopping trips to other towns and cities, or go online for some purchases, but when all is said and done, there is no place like home! People shouldn’t overlook the great selection of shops, including many family-owned retailers, we have on our own doorstep and we want to keep them!