Lower consumer spending is the biggest challenge facing small businesses this year

As well as Brexit and recruitment amongst others

Ahead of Small Business Saturday, Royal Mail has found that lower consumer spending (15 per cent) is the biggest challenge that small businesses have faced this year. Small businesses are facing distinctive challenges in the UK, compared to medium and large businesses with only 6 per cent of each citing spending as a challenge.

Brexit (10 per cent) and recruitment (9 per cent) were some of the other key tests faced by small businesses in the last year. Managing change, restructuring and cyber security were not named as challenges by any of the small businesses surveyed. 

When it comes to Christmas, 13 per cent of small businesses expect the festive period to be busier this year, compared to 19 per cent of medium and 23 per cent of large businesses. However, it seems that for many it is business as usual with 60 per cent of small businesses expecting the festive period to be the same as last year.

Nick Landon, Managing Director of Royal Mail Parcels, said “Lower consumer spending is a key challenge for small businesses in Britain. It’s important that consumers support local and smaller businesses on Small Business Saturday, over the Christmas period and throughout the year. Small businesses sit at the heart of the UK economy and are integral to the running of our country.”

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