The debate regarding the sorts of businesses to patronize remains a growing one. While some people contend that the benefits of patronizing local brands outweighs the foreign ones, I believe both options have their merits and are not mutually exclusive.
Buying local products boosts a country’s internally generated revenue tremendously. Value added taxes, generated from the sales of local goods and services are utilized by the government to enhance existing basic amenities or provide new ones where necessary. Consequently, the increased revenue produces a ripple effect of improved standard of living for the ordinary citizens. Additionally, local brands are somewhat cheaper than imported products. Import duties, transportation costs, and other necessary logistics which increase production cost of foreign goods, are not added to locally made products, this makes them more affordable to the masses. Furthermore, supporting local brands gives them visibility and a global recognition. For example, the governor of Abia State, Nigeria, uses made-in-Nigeria automobiles and wears only made in Nigeria products, down to his shoes. His gesture has attracted media attention to several brands in Aba, Abia state with a resultant increase in demand for their products.
However, even with their immense benefits, there may be times that call for imported products rather than local ones. Some countries may not posses the necessary machinery, financial power and technical know-how to manufacture necessary supplies essential for survival. For instance, there are no local companies that produce baby formulas suitable for lactose intolerant babies in Nigeria. In such cases, imported formulas are purchased to preserve the lives of babies and curb mortality rates when the need arises. Finally imported products foster international collaborations. In the food industry, food enthusiasts, who are open to novelty, explore dishes from other countries by recreating recipes using imported groceries. This fosters the spirit of oneness amongst such countries.
In conclusion, both local and foreign brands have a role to play in the grand scheme of things. Although the appropriate authorities may impose some laws to regulate importation of foreign goods and promote brands which are made locally.