Small business optimistic for 2018
16 NOV 2017
Small businesses are positive in their outlook for the year ahead, with 78 per cent stating they are optimistic for the future of their business in 2018 in a recent survey.
The research was conducted by Small Business Saturday, the nationwide campaign to support, inspire and promote the UK’s 5.5 million small businesses, as a temperature check of how the nation’s small businesses are faring.
The research also found that in today’s digital and globalised economy, where trading overseas can be as straightforward as selling to a customer next door, small businesses still value the role their local communities play. Ninety per cent of businesses surveyed said that they believed it is important for businesses to play an active part in their local community.
Despite macro-economic uncertainty, small businesses are showing a promising level of optimism. When given the statement ‘I am optimistic for the future of my business’, 36 per cent of the survey’s 700 respondents strongly agreed, with a further 42 per cent agreeing. Just 10 per cent of businesses said that they didn’t feel optimistic for 2018.
Small Business Saturday is now in its fifth year and receives widespread support from government, big business and local authorities across the country.
Last year saw £717 million spent with small businesses across the UK on Small Business Saturday, up 15 per cent on the previous year according to research by principal supporter, American Express.
Michelle Ovens MBE, Director, Small Business Saturday, said: “It’s incredibly reassuring that so many of our small businesses are optimistic for their future for next year. Small businesses up and down the UK are making invaluable contributions to the nation’s economy, and now account for £1.8 trillion in annual turnover.
“It is really important that we support our local businesses, and one of our missions with Small Business Saturday is to champion the contributions our businesses make to local communities.”
Martha Keith, founder of London stationery business Martha Brook, said: “Running a small business requires a great degree of optimism and resilience in order to continue driving forwards no matter the circumstances that you face. It’s a massive advantage to have an engaged and supportive community, where you can meet other business owners and share ideas and contacts.
“Small Business Saturday is a fantastic campaign that encourages people to go out and interact with their local businesses and communities, which is invaluable for businesses like ours up and down the UK.”
Small Business Saturday 2017 takes place on Saturday, December 2nd, with consumers and businesses across the UK being encouraged to support small businesses in their area, and to shop local.