New data from the Small Business Saturday campaign found the festive season could deliver a critical boost for the nation’s 5.5 million small businesses as they tackle extended economic difficulties
Over £20 billion could be spent by households across the festive season in the UK this year, as small businesses prepare to target a fifth of Christmas spend – equating to approximately up to £4.4 billion.
Small Business Saturday’s research also found women are predominately controlling the festive purse-strings, with 60% in charge of their household budget. And over a quarter of consumers also intend to spend more on Christmas this year. Encouragingly public support for small businesses is already riding high with four in five people thinking it is important to support small businesses and two thirds spending on goods or services with small firms multiple times a month.
Emily Beckloff, founder of International Elf Service – which crafts festive letters and stories for children – said: “Most of our business is done in the lead up to Christmas, when nine months of hard work comes to fruition. Although we publish stories all-year-round, our Christmas letters, North Pole Star newspapers and festive stocking fillers are our lead products.
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