Support local businesses — only if you can afford to

The head of the Calgary Chamber of Commerce is encouraging Calgarians to get out there and spend — but only if you've got the money.

"I encourage people to exercise caution; it's not the time to be making really big purchases," said Adam Legge, president and CEO of the Calgary Chamber of Commerce.

Many downtown restaurants and stores are suffering as a result of the economic downturn caused by low oil prices. Meanwhile, some groups have been encouraging Calgarians to support those businesses the way they did following the flood in 2013.

But Legge says this economic downturn is different than the flood, adding it all depends on your personal finances.

"People are cutting back on eating out and retail purchases. Particularly restaurants and stores on Stephen Avenue that were reliant on corporate business or corporate employees are down significantly now," said Legge.

But he added, "If you're in comfortable position or in a sector that's not affected by low oil prices, then definitely support your local businesses."

Legge says everyone wants to see a vibrant economy, but it has to be in a sustainable for both businesses and customers.

"The last thing we would ever encourage people to do is wipe out their bank accounts or go into debt just to support the local economy or a local event."