Shadow Business Secretary Chuka Umunna has proposed the adoption of a Small Business Saturday scheme in the UK to boost the fortunes of independent retailers.
Small Business Saturday was devised by American Express and launched in the US in 2010 on the first Saturday following Thanksgiving, traditionally one of the busiest shopping days of the year.
Last year President Obama, tennis player Serena Williams and actress Jessica Alba were among those promoting the campaign by calling on consumers to support their local shops. As a result Small Business Saturday raised an estimated $5.5 billion (£3.4 billion) for small independent retailers.
Mr Umunna believes a similar scheme would help UK businesses and the high street and he is hoping for support from trade associations and local authorities to replicate the idea during the next Christmas shopping period.
He said; “We must do more to celebrate the contribution local, small independent businesses make to our economy and encourage people to buy from them.”
The call comes following a survey by the Association of Convenience Stores (ACS) which shows that confidence among small retailers was alarmingly low in the run up to Christmas when stores should have been anticipating increased sales.
The survey also revealed that one in ten independent retailers is considering disposing of properties this year in order to relocate or close completely. This is not the kind of news the high street would have been hoping for at the outset of the year following record vacancy rates during 2012 and anything that might aid recovery will be welcomed.
If Mr Umunna is successful in introducing the scheme to the UK, he proposes holding the initial Small Business Saturday on December 7 2013.
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