Magic Tenner promotion to benefit shoppers and Falkirk town centre businesses

The Magic Tenner promotion launched on Saturday and runs for two weeks until Saturday, October 21.

During that time shops and businesses across the town will be offering lots of £10 deals to get people out and spending to give the local economy boost.

Falkirk is one of 50 towns across the UK currently taking part in the campaign which follows on form the national Fiver Fest run last year.

Explaining the benefits for everyone, Stefanie Paterson of Falkirk Delivers, the town centre management company, said: “The boost is much bigger than just the £10 you spend. Because most independent businesses buy from many other local businesses too. So when you spend £10 with one, it enables them to keep buying from those suppliers.

"So the money goes round and round Falkirk’s local economy. This is really important as it strengthens our high street and helps hundreds of small businesses to thrive, making Falkirk a better place to live, work and visit.

"Buying online, or at the big national chains and supermarkets has a much smaller effect, as most – or all – of the money leaves the local economy the minute you buy something”.

Alongside the £10 offers, shops will be displaying posters showing how many local suppliers they have, to show how supporting one local business supports many. These businesses can include makers, growers, accountants, electricians, in fact any local suppliers at all – even where the shop owner buys lunch.

"The ‘money-go-round’ is what makes Falkirk thrive. And who doesn’t want a thriving town,” added Stefanie.

This circular effect is backed up by The New Economics Foundation, whose study found that £10 spent in a local independent business means up to £50 goes back into the local economy due to it being re-spent over and over.

Chris Sands, founder of Totally Locally which spearheads the campaign, said: “We are always blown away by the response from indie businesses to our campaigns, and the reports of increased footfall and sales at a time when the cost-of-living crisis is hitting many people. So the Magic Tenner event is a good way for shops to support their communities by offering great deals, and for the community to support those shops that make our towns better places.”