By choosing to shop local this Christmas, consumers could double the amount of money that stays in their local area at a critical time for Britain’s small businesses.
Devon pubs are having a hard time:
But others are managing to adapt:
Small businesses remain hopeful, however, and are indeed adapting to the new landscape:
Almost three in four small business owners are feeling optimistic and positive about their business in 2021, a new report has found. According to Yell Business, in its recent survey of over 1000 SME owners in September, things aren’t all doom and gloom for local businesses. Its CEO Claire Miles says: “diverse local businesses are the cornerstones of our community”.
Many of us have been encouraged to shop local and support independent retailers during the pandemic.
Yell Business’s study revealed that three quarters (76%) of independent and small businesses have introduced a new service as the result of covid-19. Of the ones introducing a new way to engage customers, a third (32%) have started taking online bookings who didn’t before, and a quarter have started home delivery services. One in three even started doing online video consultations or viewings so they could still work during the pandemic and speak to customers.
The local press were very supportive of local businesses during lockdown:
And continue to be so:
What is clear, though, is the importance of shopping locally for the local economy:
Buying more of your Christmas dinner ingredients, loved ones’ presents or home decorations from a local business could double the amount of money that stays in your community, according to new research commissioned by Visa.
After a year of upheaval for independent businesses, Visa has released key findings from its upcoming report created in partnership with Cebr (Centre for Economic & Business Research). The socio-economic report launches alongside Visa’s Where You Shop Matters Christmas campaign, championing Britain’s local, independent businesses for a third consecutive year.
According to the research, for every £10 we spend with a local business, more than a third (£3.80) stays within the area, showing the value of shopping locally. The research also found that currently Brits spend just over a fifth of their money locally, however they would be willing to spend half of their money with local businesses. By choosing to shop local this Christmas, consumers could double the amount of money that stays in their local area at a critical time for Britain’s small businesses.