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Government calls on the public to get out together and shop local on Small Business Saturday
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National celebration of the UK’s entrepreneurs comes off the back of the flagship Small Business Plan to boost the nation’s 5.7m small businesses with the strongest reforms to tackle late payments in 25 years
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New ‘Backing Your Business’ campaign launched to help businesses get what they need to thrive, from sole traders and start-ups to high street shops and family businesses
Help support your local small businesses this busy Christmas period – that’s the message from the government today as it calls on friends, family, neighbours and colleagues to come together and shop local on Small Business Saturday (6 December) – a national celebration of the UK’s entrepreneurs and the 5.7 million small businesses that power our economy.
Small businesses employ 60% of the UK workforce, generate £2.8 trillion in turnover, and are the backbone of communities across the country. New data shows that supporting them this festive season could deliver a £5 billion boost for SMEs, with spending expected to rise 19% on last year.
The launch of the new Backing Your Business campaign comes hot on the heels of the Government’s flagship Small Business Plan, which includes the strongest reforms to tackle late payments in 25 years – designed to help sole traders, start-ups, family firms and high street shops access the support they need to thrive.
Business Secretary Peter Kyle said
“This country is home to some of the brightest entrepreneurs and innovative businesses in the world and our Small Business Plan is a key driver to accelerating that potential.
“This Small Business Saturday is a great chance to get out to your local high streets and support small businesses.
“Whether it’s your local shop, tradesperson, or high street retailer, these are the people who work day and night and power our communities and our economy.”
Ministers have been out and about vising a range of inspiring small businesses in the lead up to Saturday, including the innovative Stoke animation studio Carse and Waterman, award winning Glaswegian sweet shop Jeavons Toffee, and London’s boutique dog groomers Bow Wow.
Michelle Ovens CBE, Director, Small Business Saturday UK said
“Small businesses are the nation’s favourites businesses and they are essential to both their communities and the whole economy. Indeed our research with American Express found 95% of people feel small businesses add value to local areas and 84% believe the nation needs to support them. At this crucial time of year for many small firms it is vital that the nation remembers their favourite small businesses and goes out to support them this Small Business Saturday and beyond.”
If small business across the UK grow by just 1 percentage point annually this could add £320 billion to the economy by 2030. As well as the campaign, the government is focused on delivering for small business by
- Tackling late payments with the strongest reforms in 25 years, going further than any previous government.
- Putting more money in customers’ pockets by taking £150 off energy bills, and freezing rail fares and prescription charges.
- Raising the rate when small businesses start to pay national insurance.
- Slashing electricity prices for thousands of manufacturing businesses.
- Making training for under-25 apprenticeships free for small businesses.
- Supporting working parents with 30 hours free childcare a week saving £7,500.
- Capping the increase in business rates as pandemic support measures taper off, with a £4.3 billion package meaning most business property increases are capped at 15%.
- Doubling eligibility for enterprise tax incentives to help fast-growing firms attract investment and talent.
- Slashing red tape so that more bars and pubs can expand outdoor dining
Earlier this year, the flagship Small Business Plan was launched alongside the Business Growth Service, which included a series of measures aimed at boosting finance but also tackling the scourge of late payments with proposed laws that would be the most comprehensive reforms for 25 years.
The government has since worked closely with businesses and concluded its consultation on late payments, and it will deliver its response in the new year.
That finance package included a £4bn finance boost including £1bn for start-ups with 69,000 Start-Up Loans and mentoring support, and a further £3bn boost to the British Business Bank that will help lenders offer more accessible small business loans through the ENABLE programme.
