Brighton & Hove: Small Business Saturday
Kirstie Allsopp calls on consumers to realise the benefits of shopping local ahead of Small Business Saturday on 7 December
New research released by American Express reveals that local high streets populated with thriving small, independent businesses have added an average of £40,000 onto nearby house prices over the past decade. The rise in property values in these areas was 17% higher than the growth in comparable areas with proportionally fewer independent traders.
The American Express ‘High Streets Ahead’ Report, compiled by retail experts Conlumino, further suggests that all things being equal, over the next 10 years, homeowners living close to a flourishing local high street, could see the value of their property outperform similar homes elsewhere by as much as £70,000.
Areas with a higher proportion of small, independent businesses were also found to benefit from increased consumer spending. Typically people living in those locations spend more of their annual retail budget shopping locally (21%) compared to those living near high streets with fewer independent traders (6%).
TV property expert, Kirstie Allsopp, who is supporting Small Business Saturday said, “The American Express Report confirms what we in the property business have believed for some time. Building extensions, new kitchens and bathrooms are not the only ways to add value to your house. By shopping locally and supporting local traders, you are investing in your home as well as your high street.”
Highlighting the importance of Small Business Saturday, Kirstie Allsopp continued, “The day is all about saying to people, if you value having the butcher and the grocer on your doorstep and the benefits they bring to your neighbourhood, then we all have a part to play on 7 December.”
The research also reveals that people who live in close proximity to areas with a strong mix of independent retailers have a greater sense of ‘community’. Their local high streets are places where they spend more time socialising as well as making purchases.
Colin Walsh, UK Managing Director of American Express said, “American Express has a long-history of working with small businesses and we have always appreciated the significant value they bring to the economy. This Report identifies what we’re calling the “Shop Small Effect”, which is the reciprocal benefit consumers can enjoy simply by supporting their local independent traders. Saturday 7 December is Small Business Saturday and we’re encouraging as many people as possible to go out and celebrate the UK’s small businesses and the value they bring to their broader communities.”
As part of the research Conlumino interviewed more than 4,000 consumers, as well as a panel of 25 experts spanning property, retail, local government and business to get their insights on the high street of the future.
American Express is the founder of Small Business Saturday in the U.S. and an active supporter of the initiative in the UK. As well as running a national advertising campaign to raise awareness of Small Business Saturday, American Express is incentivising its Cardmembers to shop in small merchants on the Day through its ‘Shop Small’3 programme, which will give customers £5 back each time they spend £10 or more on their registered American Express Cards with participating small businesses on 7 December. The offer can be redeemed once per business and participating merchants can be found at: https://www.americanexpress.com/uk/benefits/shop-small/
Here in Brighton & Hove, Small Business Saturday on Saturday 7 December sees the opening of sees the hotly anticipated opening of the new ethical supermarket, hiSbe (How It should Be) on York Place, off London Road. The store will officially be opened by Green MP Caroline Lucas.
