Why small businesses matter

10-03-2022
by

What's been happening?

COVID and Brexit have amplified and accelerated hardships for both consumers and businesses across the UK while the threat of overseas retailers and manufacturers has been a thorn in our side for some time now. Competing with large business has been all but impossible for a few small businesses and most of those offer products or services which cannot be sold online. Is this really where we want to end up, no choice but online?

What are the facts?

It is a well-documented fact; it won't be long before most of our local retailers have disappeared. This is dystopian future which is unacceptable!

Small businesses are defined as those that employ between 0 and 49 employees. The following stats on small businesses are related to private sector businesses and do not include the public sector. 
  • 99% of all are small businesses.
  • Employ 48% of our private sector workforce
  • Contribute 36% toward turnover - £1.6 trillion
Source: Department for Business, Energy & Industrial Strategy (BEIS) – 2021.

Other facts

  • Small businesses also contribute to our local and wider economy in so many ways to mention here, but some of the key ones are as follows:
  • Employment – they employ locally which means less commuting while benefitting the environment.
  • Source locally – while it may not always happen, this helps other local suppliers and reduces our carbon footprint.
  • Use existing premises – while reducing our carbon footprint, they also use local tradespeople to carry out works.
  • Lower overheads and less bureaucracy – keep costs lower for everyone with less waste.
  • Pay business rates – helps pay for local resources like schools, parks, and community support services.
  • Pay taxes – helps fund the NHS, police and much more.
  • Owners live locally – keeps money filtering through the local community.

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