This weekend is the UK's first Small Business Saturday, an initiative originally founded in the US to raise awareness of small businesses. Its success in the US has been impressive with American shoppers spending £3.4bn in independent stores in 2012.
Small Business Saturday therefore represents a significant step for the UK in promoting, supporting and developing independent businesses. The UK can learn a lot from the US where there is a culture of entrepreneurialism and where advice, information and funding is readily available.
The UK economy looks set to improve, the Chancellor has pledged to help UK businesses in today's Autumn Statement, and we have certainly seen an increase in demand for funding to assist with investment in small and independent businesses, which indicates that there is pick-up across this huge sector. This is good news for both individuals making a living out of these small and micro-businesses, and for the suppliers to them and their employees.
The small business sector is critical to the success of the UK economy so any initiative that helps drive the start up & growth of small businesses in the UK can only be a good thing.
Blog by Julio Vildosola, CEO of Liquid Finance