A snap survey of people working in small businesses across the UK[i] has found that 65% have made a deliberate decision to support other small businesses during the pandemic and plan to do so this Christmas as far as possible. Marginally more women than men are key advocates of local, small businesses.
The survey by Purbeck Insurance Services, provider of the UK’s only Personal Guarantee Insurance to SME business owners and directors found that choosing to shop small is not all about spending power as those earning between £10k - £20k per annum were much more likely to seek out small businesses to support, than those earning over £40k per annum.
Todd Davison, MD of Purbeck Insurance Services said: “Small business workers are clearly major champions of other small businesses and it is fantastic to understand that many have made a deliberate, considered decision about where their hard-earned cash will go this Christmas. This will be welcome news for many small businesses, particularly as lockdown lifts next week and non-essential shops open their doors at this crucial trading time.”
Purbeck Insurance is a specialist Personal Guarantee Insurance underwriter, authorised and regulated by the Financial Conduct Authority. We work alongside lenders and brokers to provide a bespoke insurance solution based on the lender’s individual requirements and risk profile. Please contact one of our specialists today to learn more on 0208 004 7250.
[i] Survey base 500 – conducted by Gorkana Surveys on behalf of Purbeck Insurance Services, 24/11/20