Today is Small Business Saturday and, as we come out of national restrictions with the shops reopening across Sutton, it's the perfect opportunity to support our fantastic local shops, on and off the High Street.
It is really important that we back small businesses, which really underpin our whole economy: small and medium-sized enterprises account for the overwhelming majority of businesses in the UK.
In Carshalton and Wallington, for example, nearly 90% of businesses are microbusinesses, having only zero to nine employees, and SMEs make up 99.8% of all businesses in our area.
According to the Federation of Small Businesses, at the start of 2020 there were 5.94 million small businesses with zero to 49 employees, making up 99.9% of the business population overall. They account for three fifths of employment, employing 16.8 million people and with an annual turnover of £2.3 trillion, which is 52% of the annual turnover of the UK private sector.
SMEs are the lifeblood of our local communities and are at the very heart of those communities. Not only are our local retailers loved by the communities we represent, and not only do they provide jobs for local people, but they are active and engaging members of our local communities.
I would encourage everyone to shop locally where possible, and to support our local high streets and businesses.
Find out more: https://smallbusinesssaturdayuk.com