Retained retail spending

Domain: 
Dynamic, resilient local economies
Sub-Domain: 
Economic Activity
Measure: 
Percentage of survey respondents who prioritise locally produced and owned as an important factor when buying products and services
Rationale: 
1

Investing in local business and purchasing local produce where possible insures that money remains in a community, especially in rural and regional areas. This strengthens community capacity, builds business, provides employment and ensures that a variety of services are available in a community. Communities with a diverse local economy are more resilient to external changes and improve the quality of life for all residents (Hegney et al., 2008).

A region's ability to capture local consumption expenditure is vital in providing local employment and is related to business diversity. Buying local services and products helps create diverse business and employment opportunities for local residents. This helps sustain local economies to create communities as a desirable place to live and work (CIV, 2008).

Data Source: 
Resilience Profiles Survey 2011
References: 
Hegney, D., Ross, H., Baker, P., Rogers-Clark, C., King, C., Buikstra, E., Watson-Luke, A., McLachlan, K., & Stallard, L.(2008). Building Resilience in Rural Communities Toolkit. Toowoomba, Queensland: The University of Queensland & University of Southern Queensland.
References: 
Community Indicators Victoria (CIV) (2007) Metadata, Retrieved from http://www.communityindicators.net.au/indicator_metadata


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