A NEW study reveals that 28% of small businesses in Scotland say they “will close in the next 12 months” if they have a “below average” Christmas trading season.
The research from Notonthehighstreet, the online curated marketplace, has revealed that 28% of smaller businesses in Scotland say are worried about the threat of large corporations during the Christmas period.
The Christmas trading season is key for many small businesses – with 47% of small business owners in Scotland saying the period is important, with 33% going as far as to say it is “very important/vital”.
The research found that when it comes to the all-important Christmas trading season, just 27p in every pound will be spent with small businesses this year, with the lion’s share going to big corporations and chains.
Notonthehighstreet works with 5000 small creative businesses and its research found that whilst 82% of shoppers in Scotland consider themselves to support small businesses, 17% have not purchased anything from a small business in Scotland in the past six months. 9% have not in the past year.
The study shows that 34% of those in Scotland know someone who owns a small business that relies on Christmas trade. When asked about the impact on that person and their family should the businesses have a poor Christmas trading season, 34% said that it means they will struggle financially next year, 20% say it will impact their wellbeing and/or mental health, and 23% say it will ruin them financially and lead to bankruptcy.
Claire Davenport, CEO Notonthehighstreet commented: “The research figures show that whilst most people in Scotland love to shop with small businesses and believe they support them, they aren’t quite putting their money where their mouth is.”
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