American Express - shoppers rally around small businesses amid tough times

Small businesses are receiving much needed support from their customer base, according to new research from American Express, released to coincide with its summer Shop Small campaign.

The research, conducted by Opinium and involving 1,008 SME senior decision makers, found that 52% of small businesses believe customers are choosing to shop with them to provide support during the current challenging trading environment, brought about by a range of cost and supply chain pressures.

This is reflected in the number of new customers shopping with small independents; 55% of small businesses report seeing a rise in new customers purchasing from their business over the last six months.

When it comes to the future, two-thirds of respondents say they are expecting sales to grow over the next year, with 35% stating they are optimistic about prospects for their business.

Dan Edelman, Vice President and General Manager, UK Merchant Services at American Express, says: “After the many challenges of the last few years, it’s heartening see that customer support for the nation’s valuable small businesses remains strong.”

“We’re proud to champion these businesses, which is why we’re encouraging our Cardmembers to show their appreciation by shopping locally with the return of Shop Small this month, available at more locations than ever before.”

Michelle Ovens, Director of Small Business Saturday UK, adds: “Such optimism shown towards small businesses is fantastic to see, especially as we navigate through a challenging time when they need our support more than ever.”

“Choosing to back campaigns such as Shop Small and Small Business Saturday is an excellent way to get behind our nation’s independents and give them the recognition they deserve.”