Small Business Saturday took place in the UK on the 5th December 2015 and it was a huge success! The incentive is backed by the Government, Federation of Small Businesses and many consumers. It falls just after the notorious Black Friday which is typically at the end of November and consists of drastic price drops by national retailers. In order to give local companies a real chance at winning back custom, Small Business Saturday is all about them.
Capify assists small businesses by offering them quick and responsible access to capital. However, we also support them in other ways. We understand completely the important role they play in our economy so we provide helpful tips, industry news and useful guides which are available on our blog and social media. Small Businesses Saturday was something our company was eager to get involved with so we created an article which highlights the benefits of this initiative and an infographic. We also made a pledge in the UK office that everyone would spend over £10 in a local business on the weekend starting Friday 4th December.
Anyway, thats enough about us! Here are some facts and statistics from the day itself…
A whopping 623m (up 23% from 2014) was spent in local businesses and #SmallBusinessSaturday trended on Twitter for the whole day. In total there were over 100,000 Tweets sent in support of the initiative which reached an amazing 25m people! Its nice seeing that it was received so well and had such a positive outcome, especially when SMEs are so often referred to as “the lifeblood of our economy.”
Small businesses face so much competition from large corporations and chains across every sector. Whether an entrepreneur owns a retail establishment, restaurant or even pet shop there is always another, bigger organisation which can usually sell products for much cheaper. However, cheaper doesn’t mean better and SMEs have an advantage in that they can provide a friendly and specialised service which chains (who typically have a large staff turnover) can’t. It can be easy for small businesses to be overlooked when theres a Topshop, Tesco’s and Pets at home in every town and city, but this initiative is doing a really good job at raising awareness of why everyone should #ThinkSmall and #ShopLocal.
If you weren’t aware of the day this year, it will definitely be coming back for 2016 and I’m sure it will be even bigger and better. After all, it’s seen an increase in traction since it was introduced in 2013. There are many ways to get involved, you could sign up to their website, download a marketing pack and add your company to the small business finder which will appear when people search a location close to yours. Both consumers and other businesses use this tool so you could discover who else in your area supports the day and also gain some extra customers.The initiative will be at a similar time in 2016 which is quite a way off, but knowing how fast last year went, it’ll probably be here in no time at all!
When the time comes, if you need to prepare for the day by marketing to prospective customers, buying extra stock or setting up a pop up shop in another location, Capify could provide you with funds from £3,500-£500,000 which you can use to complete any ambitious or necessary plans. You can apply using our smart online application here which will give you a decision about how much you can raise in 60 seconds, alternatively if you would like some more information call 0800 151 0980 and you will be put through to one of friendly and knowledgable account managers.