UK entrepreneurs need to see the public is backing them - small businesses are counting on us

Small Business Saturday – taking place today, December 6 - casts a vital spotlight on the nation’s 5.6 million small firms by encouraging people to support and spend with their favourite independents.

This time of year is crucial for small businesses. The peak festive season is when many make the margins that sustain them through the year. However, smaller firms can often struggle to keep up with the ridiculous pressure for deep discounting that Black Friday can bring, and many are still recovering from all the challenges thrown their way over recent years, particularly rising costs.

The good news is that our data found that UK Christmas spending with small businesses could rise by 19% this year - to £5.3 billion – potentially delivering a critical boost for small firms to tap into.

And in signs of a potentially improving economic picture, our analysis found the nation could spend over £23 billion across the festive season - 16% more than was predicted last year. And over a quarter (28%) of Brits expect to spend more on Christmas this year.

As a nation it is no secret that we love the festive season. Even when times are tough people want to spend money on Christmas.

Top spending priorities are (perhaps predictably) food, gifts, alcohol, clothing and nights out. One fifth of households also plan to treat themselves to holidays. Younger people (those aged between 25-34) will be spending the most over the season, with plans to spend an average of £1083.

Just as the nation loves Christmas, it also loves small businesses. Indeed further research we did with Small Business Saturday’s founder and principal supporter American Express found the UK’s love for small firms is riding high with four in five Brits (84%) believing it is important to support small firms, 95% thinking they add value to local communities and over half (58%) having a favourite small business.

Independent food and drink businesses particularly lead the way to the nation's hearts, with cafes and coffee shops, restaurants and takeaways, bakeries and bars and pubs topping the UK’s list of favourite small businesses. After that we love hair salons, convenience stores, bookshops, garden centres, gift shops and garages!

Ther is such a rich variety of incredible businesses across the UK that it can be really hard to pick a favourite. But whatever yours, be sure to support and remember them this weekend and beyond. They are counting on us!

Small businesses are essential to the UK’s communities and the whole UK economy, and we need to show entrepreneurs the public is backing them all the way.

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Michelle Ovens CBE is Founder of Small Business Britain.

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