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Gloucestershire Business News

Think small to make big difference

The importance of shopping local this Christmas has been reinforced by a study into the impact of the coronavirus on our high streets ahead of Small Business Saturday.

The research by insurance company Simply Business showed the first six months of restrictions during the pandemic has cost small businesses up to £69billion in total.

And it comes as Punchline-Gloucester.com called on shoppers to back local, independent traders during December.

Punchline Says: Think local to keep giving this Christmas 

The Simply Business report found 234,000 small businesses hasve stopped trading with 17 per cent concerned they would not survive another lockdown.

But it also unearthed a story of resilience and creativity

One in five small businesses have adopted new technologies while 85 per cent of owners intend to remain self-employed with 10 per cent planning to start a new business.

Simply Business chief executive Alan Thomas said: "We need small businesses to bounce back. SMEs account for 99 per cent of all UK businesses and contribute a combined £2trillion annually.

"With many at risk of permanent closure, so much is at stake for our local communities and the wider economy."

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