A quarter of small businesses 'face closure if Christmas trading disappoints'

24 Dec 2019

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.'

Register for our newsletter

Once a month we'll send you an email packed full of essential business news and handy tax tips to help save you money.

Register

Weston-super-Mare

34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

01934 415022

Cheddar

Bath Street
Cheddar
Somerset
BS27 3AA

01934 743274


Home | Contact us | Accessibility | Disclaimer & Privacy Policy | Help | Site map |

© 2020 Four Fifty Partnership. All rights reserved.

We use cookies on this website, you can find more information about cookies here.


Registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales. Details about our audit registration can be found at auditregister.org.uk under the reference C001092613.

"four fifty partnership" is a trading name of Four Fifty Partnership Limited. Registered in England. Company Number 5032008. Registered Office 34 Boulevard, Weston super Mare, Somerset BS23 1NF.

Directors: Richard Acreman BSc CTA, Joy Boswell FCCA FCA, Peter Ison BA FCA and Nick Gravell FCCA FCA.

Professional Indemnity Insurers: Nexus Underwriting Limited 52-56 Leadenhall Street, London EC3A 2EB (Policy Number: BC6210PIA194). The territorial coverage is worldwide excluding professional business carried out from an office in the United States of America or Canada and excludes any action for a claim brought in any court in the United States of America or Canada.