Annual turnover of Scots smaller firms hits £108bn

Scotland’s smaller businesses turn over almost £300 million per day, according to figures uncovered by the Federation of Small Businesses (FSB).

The FSB is urging Scots tomark the contribution of smaller operators by shopping locally on Small Business Saturday — December 2 — instead of shopping online with big businesses on Cyber Monday.

Scottish Government figures show that Scotland’s small-to-medium sized businesses turned over £108 billion between March 2016 and March 2017, equivalent to almost £300 million per day.

By comparison, the Scottish Government budget for 2016-17 was £33.18 billion.

The statistics also show that these businesses provide more than half of Scottish private sector employment and account for 99% of all enterprises.

Andy Willox, FSB’s Scottish policy convenor, said: “These figures underline what most people know: that smaller firms drive Scotland’s local economies.

“To celebrate this contribution, we’re asking Scots to choose to spend locally on the busiest shopping day of the year.

“Whether you’re purchasing a relative’s Christmas present, or grabbing some lunch with a friend, we’d ask you to choose to spend your hard-earned cash with independent operators.

“And why wouldn’t you when local firms offer special products not stocked by the chains, and a personal touch that multinationals can’t approach.”

Last year, customers spent £717 million with UK small businesses on Small Business Saturday, an increase of 15% on 2015 spending.

On Wednesday, there will be a debate in the Scottish Parliament on Small Business Saturday, following a motion laid by Ash Denham MSP.

FSB is getting in touch with MSPs to encourage them to mention their favourite local traders in their contributions.

Andy Willox said: “It is hard work to run a small business, especially during the festive period when many firms open their doors while we’re opening our selection boxes.

“By promoting local traders, MSPs are letting Scotland’s small business community know that they value their contribution.

“We want as may parliamentarians as possible to give a namecheck to their favourite local firm.”