Connect with us

Hi, what are you looking for?

Right Decision NowRight Decision Now

Business

Small businesses show their community spirit with support and solidarity in challenging times

As American Express celebrates 10 years of its flagship Shop Small campaign, new research shows the incredible camaraderie and resilience that exists among small business owners in the face of ongoing challenges.

A survey of retail and hospitality sector business owners1 on behalf of American Express and Small Business Saturday, found that the vast majority agreed it was important to support other local, independent businesses, with 85% saying they actively promote other suppliers and small businesses local to them. A similar number said they always tried to work with these suppliers where possible.

Recognising the vital contribution their businesses make locally and the need to support fellow entrepreneurs, three quarters of respondents agreed there was a strong sense of community among small businesses in their local area.

While over half of these small business owners said the next outlook for their business over the next six months would be “challenging”, over a third said they were “optimistic” and one quarter “excited”.

Celebrating 10 years of shopping small

2022 marks 10 years since the American Express Shop Small campaign launched in the UK and the tenth year of Small Business Saturday on 3 December. American Express continues to be the principal supporter of Small Business Saturday, encouraging Brits to back the nation’s small businesses that have such a positive impact on our local communities.

At its heart, the UK is a nation of entrepreneurs with the number of small businesses having grown significantly over the past decade.2 The research reinforces some of the biggest rewards of running your own business. Three fifths of respondents said the top benefit was “being their own boss”; 45% cited “job satisfaction”; and a quarter pointed at “having a positive impact on the local community”.

Dan Edelman, General Manager, UK Merchant Services at American Express, said: “Our research offers further proof of how community-focused and generous of spirit small business owners are. They are facing hugely challenging times but appreciate and support the valuable contribution their fellow entrepreneurs make. We’re proud to continue championing them with the return of our Shop Small campaign and Offer, available at more locations than ever before this winter, as well as through our long-standing support of Small Business Saturday on 3 December.”

Michelle Ovens, Director of Small Business Saturday UK, added: “While small businesses are undoubtedly facing a host of challenges currently, this research underlines that being an entrepreneur is also still a hugely fulfilling thing to do and the UK is still a great place to start your own business. The strength of collaboration bubbling away across the small business community is a big reason for this. But as well as support from each other, business owners need support from everyone around them, including the public.”

Read more:
Small businesses show their community spirit with support and solidarity in challenging times

    You May Also Like

    Business

    The head of the International Monetary Fund has warned of increased risks to the stability of the financial system after weeks of banking sector...

    World News

    BEIJING — China landed an uncrewed spacecraft on the far side of the moon on Sunday, overcoming a key hurdle in its landmark mission...

    World News

    LONDON — Talks aimed at reaching a global agreement on how to better fight pandemics will be concluded by 2025 or earlier if possible,...

    World News

    SINGAPORE — Ukrainian President Volodmyr Zelensky’s unscheduled appearance at Asia’s biggest security conference dominated proceedings on Sunday after China’s defense chief slammed “separatists” in...

    Disclaimer: rightdecisionnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 rightdecisionnow.com | All Rights Reserved