Funding Circle: Consumers are supporting small businesses this year
Consumers are going out of their way to support small businesses this year, research from Funding Circle has found.
A survey of 2,000 UK adults revealed that 51 per cent are going to go out of their way to support small businesses in 2020, with 48 per cent wanting to completely avoid buying from large corporations.
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More than half said their shopping habits will be different this festive season, with a fifth planning to leave behind their usual ‘go-to’ presents, and more wanting to spend additional time searching for more personalised items.
The research found that people believe they can get more unique gifts from small companies and feel good when they are supporting family or local businesses.
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As a result, more than half are even willing to pay an average of £26 more for a unique, personal gift from a small business than those from a chain of companies.
Many people told Funding Circle that 2020 has made them realise how important small businesses are and 56 per cent of consumers believe they need the nation’s support more than ever.
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“After an extraordinary year, we’re all thinking more about the Christmas presents we’re buying and where we’re buying them from,” Lisa Jacobs, Europe managing director of Funding Circle, said in a blog on the platform’s website.
“It’s brilliant to see shoppers championing their local small and independent businesses this festive season, finding gifts that are unique and well-suited to their loved ones.”
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