Small businesses across the capital continue to struggle. After two years of interrupted trade as a result of the pandemic and cost of living crisis, small business confidence in the future is decreasing. According to recent statistics from VistaPrint, the need for consumers to drive small business growth by supporting initiatives like Small Business Saturday are more crucial than ever.
Small Business Saturday is a grassroots, non-commercial campaign that aims to support small businesses across the UK by encouraging consumers to shop locally at independent stores. This is in contrast to Black Friday, which is famously linked to larger brands, often with an international presence. The day is celebrated on the first Saturday of December, which this year is December 2.
VistaPrint’s recent data* reveals that 70% of London small businesses generate up to a substantial 86% of their annual revenue during the holiday season. This period becomes a make-or-break moment for these enterprises, underscoring the importance of Small Business Saturday in driving foot traffic and sales to local establishments.
VistaPrint’s research also reveals a sense of apprehension among London’s small business owners about the future. Despite almost a third (26%) express some concern about the future, the vast majority of London’s small business owners (91%) express satisfaction and happiness with their decision to embark on their entrepreneurial journey, underscoring the passion and dedication that drives these businesses forward.
Sabine Leveiller, VistaPrint’s Marketing VP for Europe, emphasises the power of strategic marketing to bolster small businesses: “I’m often asked by VistaPrint customers if it is possible to market their brand effectively on a shoestring budget. My answer is always a resounding yes: you do not need a huge budget, but it is useful to know how to allocate your spend smartly”.
Leveiller continues, “Understanding your audience is paramount to effective marketing. In an era of information overload, consumers appreciate brands that listen and respond with intention. By focusing marketing efforts on specific channels where your audience is already active, you can foster meaningful interactions and build relationships.”
As London’s small businesses gear up for the holiday season, Small Business Saturday serves as a lifeline for many of London’s entrepreneurs. By supporting small businesses during this festive season, we contribute to the vibrancy and diversity of our communities, ensuring a brighter future for the backbone of our economy.
*Survey conducted by Censuswide on a sample of 501 small business owners (less than 11 employees, including Sole traders), based in the UK.