An annual event celebrating small businesses on the high street is hoping to capitalise on the end of England’s national lockdown, as people flock back to re-opened shops. Small Business Saturday is being held this weekend, under efforts every year to encourage people to support small and independent retailers and shop in their local area.
Originally founded by American Express in the US in 2010, Small Business Saturday has since become a huge success in the UK. Over £800 million was spent with small businesses across the country last year!
Christmas is a vital trading period for small retailers and unfortunately, the closure of non-essential shops due to the nationwide lockdown has compressed the festive trading period considerably for many small stores. Despite the undeniable gloom – there is hope on the horizon, as new research has revealed that Brits plan to spend £6.2 billion shopping with independent businesses this December.
Seven in 10 Brits have said they will visit local shops and businesses this month, with an average spend of £169, according to research commissioned by American Express, supporter of Small Business Saturday UK.
Hope for the future
The figures reveal a positive outlook for the future of brick and mortar retail, with 78 per cent of Brits confessing their admiration for how local businesses have navigated the pandemic, and want to continue supporting them for the long term. More than 7 in 10 also said that they appreciate local businesses more now than ever before. Of these, almost four in five intend to either maintain this spend or increase it in 2021.
“Small Business Saturday is not just one event but millions of actions taken by all of us, which add up to one big impact to boost small businesses at this difficult time. More than ever, it is a key moment to shine a spotlight on small businesses and the important contribution they make to our nation.”
– Michelle Ovens, Director at Small Business Saturday
From getting used to wearing face masks all day, to instating thorough hygiene measures and orchestrating COVID-safe social distancing instructions – at Targetfollow, we are proud of how our tenants have managed to successfully adapt. Above all, we are incredibly impressed with how all have kept their head down and worked hard to overcome 2020’s many challenges.
Small businesses are the beating heart of our local communities and this year we are hoping Small Business Saturday gives them the boost they need to carry them into the New Year, as we look to build back better from coronavirus.