“Public support is absolutely vital for small businesses across the UK” – Michelle Ovens, Small Business Saturday UK
More than one in four Scots will spend up to a quarter of their Christmas budget with small businesses this year as an annual campaign to encourage people to “shop local” reaches its climax.
New data from Small Business Saturday suggests that £20 billion could be spent by households across the festive season in the UK this year with as much as £4bn or so in Scotland. It found that the average UK household will spend £757 on seasonal celebrations – with women controlling most of the spend.
The survey, released amid the Black Friday stampede and the final countdown to the Small Business Saturday event on December 7, indicates that 26 per cent of people across Scotland will spend up to a quarter of their festive budget with smaller businesses. Meanwhile, 71 per cent say backing small business is important and 62 per cent “shop small” many times a month.
Campaign organisers said the festive season could deliver a “critical boost” for the UK’s 5.5 million small businesses as they tackle “extended economic difficulties”.
Small Business Saturday’s research found that women are predominately controlling the festive purse-strings, with 60 per cent in charge of their household budget. And over a quarter (26 per cent) of consumers also intend to spend more on Christmas this year, despite cost-of-living pressures.
Michelle Ovens, director of Small Business Saturday UK, said: “Public support is absolutely vital for small businesses across the UK, with many still fighting to recover from the cost-of-living crisis and deal with continued challenges like high costs and flat growth.
“With a major festive spending pot up for grabs this year, there is a huge opportunity out there for small businesses. And it is really encouraging to see such positive public sentiment across Scotland. We need this to continue as it really will make all the difference to helping small firms across the nation stay in business and keep delivering their incredible value across our economy, society and local communities.”
Small Business Saturday came to the UK in 2013 and is backed by principal supporter American Express, which founded the campaign in the US in 2010. Over the time it has been running in the UK, the campaign has seen a growth in public support for small businesses with billions of pounds spent with small firms on the day itself.
On Small Business Saturday, customers across the UK go out and support all types of small businesses, both online and in bricks-and-mortar stores – from independent shops and restaurants to small service and business-to-business operators such as accountants, plumbers and digital marketeers. Many small businesses get involved in the campaign by hosting events, offering promotions and collaborating with other local firms.
Dan Edelman, general manager, UK merchant services at American Express, said: “With the festive period fast approaching, it’s heartening that public support for small businesses remains strong. Small Business Saturday is a campaign which remains as important now as when it first began. That’s why American Express is proud to champion the nation’s much-loved independent businesses as principal supporter, encouraging the nation to shop small.”
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