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Brits brave storms to back small businesses, spending £634m on Small Business Saturday

December 11, 2024

Today is Small Business Saturday. A day to celebrate the thousands of businesses and entrepreneurs across the country who are the backbone of our economy.

Strong consumer solidarity prevailed on Small Business Saturday despite blustery conditions sweeping the UK.

According to new research by American Express, more than 10 million Britons shopped at independent retailers on 7 December, braving the impact of Storm Darragh to inject an estimated £634 million into small businesses both in-store and online.

The study, which surveyed 4,000 adults across the country, found the average spend per customer reached its highest level since 2020. More than half of respondents (53%) said they shopped small to show support for high-street traders, while nearly two in five (39%) acknowledged the challenges that small businesses have faced lately. In a promising sign for the sector’s future resilience, 70% of those surveyed said they intend to keep shopping small in the coming year due to the positive impact such businesses have on their local communities.

American Express, which founded and has been the principal supporter of Small Business Saturday, noted that the findings are based on consumers’ self-reported spending rather than actual sales data or cardmember spending figures. Over the 12 years the initiative has run in the UK, it has encouraged millions to turn out and helped generate billions of pounds in sales for small businesses.

The research also showed that Britain’s penchant for “shopping small” spans beyond a single day. Among those increasing their support for smaller enterprises this year, nearly three quarters (72%) reported making a deliberate effort to shop with them where possible. Another 60% said they recommended independent retailers to family and friends, and almost a third (31%) left positive online reviews to help boost these businesses’ reputations.

This year’s Small Business Saturday garnered broad political backing, transcending party lines. Prime Minister Sir Keir Starmer hosted a reception for small businesses at Downing Street, while Chancellor of the Exchequer Rachel Reeves visited independent firms in Leeds. Senior political figures, including the Leader of the Opposition Kemi Badenoch, publicly endorsed the campaign. Other high-profile supporters included London’s Mayor Sadiq Khan and Greater Manchester Mayor Andy Burnham.

Michelle Ovens, Director of Small Business Saturday, welcomed the strong turnout and spending, particularly in the face of adverse weather. She said: “It’s fantastic to see shoppers defying stormy conditions to back their local businesses, and the uplift in spending per shopper is a boost at a crucial time. By choosing to buy local, even within tighter household budgets, consumers can make a tangible difference to their communities. This support throughout December and the festive season could set the stage for a more optimistic 2025.”

Dan Edelman, UK General Manager of Merchant Services at American Express, added: “Small businesses are the backbone of our communities, so it’s heartening to see consumers rallying behind them despite challenging weather. That determination to ‘shop small’ is a vital ingredient in keeping our high streets healthy and thriving as we head into the new year.”