Economic Development Cowichan has put together a list of resources to help local businesses weather the economic fallout if tariffs are eventually imposed by the United States.
EDC wants to help local businesses understand the impact of tariffs, explore new markets, and learn about provincial and federal support programs.
It says one of the most effective economic countermeasures is investing in local businesses as studies have show this can recirculate up to 4.6 times more revenue in the local economy than dealing with multinational corporations.
For every $100 spent locally it injects $63 dollars back into the economy, compared to just $14 spent with multinationals.
EDC says prioritizing local sourcing and production reduces reliance on international trade and help protect businesses from external disruptions, and will help fostering long-term sustainability and self-sufficiency for Cowichan businesses.
For more information, visit the Economic Development Cowichan website.
