Consumers flocking to small business traders

posted by 4 years ago in News

There’s been a massive 110 per cent rise in the number of consumers using the products and services of independent local shops and traders over the past five years. That’s according to research by insurance provider Simply Business.

They have identified a steady rise in the number of private small business through annual analysis on company micro-business and sole trader customers.

The news comes as traders celebrated another busy Small Business Saturday this month. The annual campaign encourages shoppers to use independent stores up and down the country.

So, alongside the national campaigns, what’s helping to turn the tide for local small traders?

Many consumers are rejecting chains and multinational companies in favour of independent businesses. It’s thought that ethical considerations, unique products, the desire to help boost the local economy and enjoying a personalised service are all factors that are attracting business and increasing footfall.

Buoyed on by their increasing popularity small businesses are also starting to fight back. For example Powys small business traders have taken the tax man to town by employing the same offshore accountancy practices as companies such as Starbucks and Google in a tax avoidance scheme. They’ve been urging other local high streets to do the same.

The North West was the region that emerged as the most popular to open up on the high street with the number of independent retailers starting up there since 2010 rising by 89 per cent.

The research also revealed that independent traders were steadily gaining business and demonstrated a rise in a range of professionals including:

  • Manicurists (115 per cent)
  • Hairdressers (79 per cent)
  • Domestic cleaners (118 per cent)
  • Builders (86 per cent)