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28 November 2017

New figures show Welsh SMEs turn over £126million per day - Shop locally this weekend, FSB urges

Wales’ smaller businesses turn over £126 million per day, according to figures from the Federation of Small Businesses (FSB).

The FSB are urging Welsh shoppers to celebrate the contribution of smaller operators by shopping locally this Small Business Saturday (2 December 2017).

Figures show that Wales’ 240,000 small-to-medium sized businesses turn over £46billion a year, equivalent to £126m per day. By comparison, the Welsh Government budget for 2016/17 was £15.3billion.

The statistics also show that these businesses provide 62% of private sector employment.

Janet Jones, FSB’s Wales Policy Chair, said: “These figures underline what most people know: that Wales is built on an SME economy. To celebrate this contribution, we’re asking shoppers to choose to spend locally on the busiest shopping day of the year.   

“Whether you’re buying a Christmas present, or grabbing some lunch with a friend, we’d ask you to think about the power your spending has this Christmas. Shopping with an independent business means supporting local jobs, investment, and the vibrancy and distinctiveness of our local areas. Not to mention that independent businesses give items that unique touch that big chains can’t replicate.

“If you’re committed to spending locally this Small Business Saturday, why not encourage others to do the same, and take the £10 Pledge? This is a promise to spend at least £10 with a small, independent business on Saturday 2nd December. And if you post about it on social media using the hashtag #10PoundPledge – your friends are much more likely to do the same.

“I’ll be taking the £10 Pledge on Small Business Saturday and I really hope that you will consider doing the same.”