KPMG Predicts half a billion pounds will be spent on Small Business Saturday

The Small Business Saturday campaign kicks off tomorrow (December 6) and KPMG predicts that half a billion pounds will be spent on the day.

KPMG Predicts half a billion pounds will be spent on Small Business Saturday

David McCorquodale, head of retail at KPMG, which is a global network of professional firms providing audit, tax, and advisory services, said: “After all the fanfare of Black Friday, the UK is gearing itself up for Small Business Saturday. This gives local retailers their turn in the spotlight and the chance to win the hearts and minds of their local community.

“Independent retailers are the lifeblood of the British high street, and if supported by shoppers and local government, have the potential to become the big brands of tomorrow. However, entrepreneurs setting up shop must overcome multiple obstacles, including the burden of red tape and high property costs. They also can’t compete with the bigger players’ advertising budgets, which makes initiatives like this absolutely crucial.

“Based on the success of last year’s event, I predict that approximately half a billion pounds will be spent in small businesses on Small Business Saturday.”

Now in its second year, Small Business Saturday is a non-political, non-commercial campaign, which aims to highlight the importance of local small businesses and encourages consumers to ‘shop local’ and support small businesses in their communities. The day itself takes place on the first shopping Saturday in December each year, but the campaign aims to have a lasting impact on small businesses. Last year over £460 million was spent in small businesses on the day.

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