A survey carried out by online retailer notonthehighstreet has suggested that nearly a quarter of UK small businesses face closure if Christmas sales disappoint.
22% of small businesses polled said that they will close in the next 12 months if they have a ‘below average’ Christmas trading season.
The survey also revealed that 30% of individuals know someone who owns a small business that relies on Christmas sales to survive. 91% of Brits stated that they like shopping with small businesses due to the availability of British brands; the availability of unique items; and being able to support the business owner, rather than corporate CEOs.
‘The research figures show that whilst Brits love to shop with small businesses and believe they support them, they aren’t quite putting their money where their mouth is,’ said Claire Davenport, CEO of notonthehighstreet.
‘It’s clear that many smaller businesses are heavily reliant on the Christmas trading period and a below average Christmas could put them in a precarious situation when it comes to the long-term viability of their company.
‘The figures stated are the impact on companies who have a below average Christmas, demonstrating that the impact of a very poor Christmas could be far more severe.’