One fifth (22%) of the nation’s seasonal spending pot could go to small businesses this year – according to new data from the Small Business Saturday campaign
The figures also also showed that over £23 billion could be spent in total across the festive season, representing a nominal 16% year-on-year spending rise, with UK households expecting to spend £824 on celebrations on average, 8% more than last year.
Over a quarter (28%) of Brits expect to spend more on Christmas this year, with the top areas of priorities including food (78%), gifts (71%), alcohol (53%), clothing (47%) and nights out (46%). One fifth of households (22%) also plan to treat themselves to holidays. Younger people aged 25-34 will be spending the most over the season, with plans to shell out an average of £1,083.
As the Small Business Saturday campaign kicks off, organisers are issuing their annual call for the nation to support and spend with small businesses on December 6 and throughout the crucial ‘peak’ trading season, which is essential for sustaining many small businesses throughout the year.
“It is promising to see positive economic signs ahead of this year’s critical festive season. This bigger seasonal spending pot offers an incredible opportunity to boost the UK’s amazing businesses,” says Michelle Ovens CBE, director of Small Business Saturday UK.
”It is vital the nation gets behind our favourite small businesses so we can unleash their power in supercharging the economy next year”
Michelle Ovens CBE, director of Small Business Saturday UK
“Despite ongoing challenges, small businesses have experienced a period of relative stability this year. Public support can make all the difference in helping them finally turn a corner as the year ends – especially with Black Friday and Cyber Monday on the horizon, as small firms can really struggle to keep up with deep discounting events. It is vital the nation gets behind our favourite small businesses so we can unleash their power in supercharging the economy next year and delivering immeasurable wider value across society and our local communities.”
Encouragingly,public support for small businesses continues to stay strong, with four in five people (84%) thinking it is important to support small businesses, and 95% believing they add value to the local economy.
This comes as the number of small businesses rose to 5.6 million for the first time since 2020, after a series of falls in the UK’s small business population since the pandemic.
Jeevan Punj, founder of luxury gifting business Elite Hampers in Shropshire, said: “Over the past few years our sales during the festive season have increased year-on-year. This year, we are already delivering for Christmas! It’s nice to see people spend on others during this time of year, and we are excited to deliver hundreds of hampers over the next few weeks.”
Martha and Hepsie, an independent homeware design brand run by two sisters, and based in Sheffield and Devon, is hoping the festive season will give their business a boost. Hepsie Goddin said: “Christmas is a key season for our business and it’s really hard to judge how it’s going to be this year. With the squeeze on household budgets, we hope people will be looking to invest in smaller quality products designed with purpose.”
On Small Business Saturday, customers across the UK go out and support all types of small businesses, both online and in bricks-and-mortar stores; from independent shops and restaurants to small service and b2b-based businesses such as accountants, plumbers and digital marketeers. Many small businesses get involved in the campaign by hosting events, offering promotions, and collaborating with other local businesses.
As well as encouraging the public to make a conscious effort to spend with small firms across the festive season and beyond, campaign organisers also suggest supporting favourite independents in other ways, such as leaving positive reviews or spreading the word among friends and family.
