Despite the tough economic environment, the nation’s support for small, independent businesses remains high, according to new research.
The research suggests more than eleven million Britons hit their local high street or shopped online at a small business on Small Business Saturday, spending a collective £669m.
Top reasons for shopping small included wanting to support business owners on the high street (45%) and recognising it being a tough year for small business (38%).
The study by American Express to mark this year’s Small Business Saturday (2 December 2023) shows that over the past 10 years, 70% of Britons have become more aware of the positive impact small businesses have on local communities.
Of those consumers upping their support for small businesses, they are doing so in a variety of ways; three fifths (61%) say they are shopping small where possible; over half (56%) are recommending small businesses to friends and family; and almost a third (30%) are following them on social media.
Looking ahead, almost two thirds (63%) of Britons agree that they will continue to shop at small businesses throughout the festive season. A similar proportion (66%) will continue to shop at small businesses next year because of the positive impact they have on their local community.
Michelle Ovens, Director of Small Business Saturday, said: “Although the weather was chilly, the nation’s hearts were warm with small business love and support this Small Business Saturday.
“It remains a tough economic environment for both businesses and consumers, which makes it all the more encouraging to see how much the UK appreciates and actively supports its small and local businesses.”
American Express is founder and principal supporter of Small Business Saturday, which encourages consumers to ‘shop small’ and support businesses in their communities. It is the UK’s most successful small business campaign; over the 11 years it has been running in the UK, it has engaged millions of shoppers and seen billions of pounds spent with small businesses.
Wider support for this year’s Small Business Saturday came from Prime Minister, Rishi Sunak, who welcomed small businesses, charities, and local communities to Downing Street as part of a festive Christmas market. Government ministers joined MPs from all political parties, as well as local councils in positing their support across social media.
American Express' Dan Edelman said: “Our research shows Britons’ support for small businesses remains strong, with people across the country choosing to shop small on Small Business Saturday."
To learn more about Small Business Saturday visit here
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