Bulletin

Small shops get their big day in the spotlight

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Last weekend saw the second annual Small Business Saturday, with organisers expecting thousands of independent shops and traders to participate by holding events and offering discounts in an attempt to attract business away from supermarkets and chain stores. Direct Line for Business estimates that the event will deliver £543million in extra revenues for small companies. The campaign was backed by Prime Minister David Cameron and the three main political parties. Chuka Umunna, the shadow business secretary and one of the organisers of the event, said: "Last year we saw £500 million of additional spending with small firms on the day, and 40% of Britain's local authorities took part ... This year, I hope it will be even bigger and better?. A report by American Express suggests that every £1 spent with independent businesses results in 60p returning to the local economy. Other benefits include increased social interaction in areas with a high proportion of independent, small shops.

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

 

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