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6 Dec 2023

Bristol and Cirencester-based bespoke fine jewellery retailer Titcombe Bespoke Jewellery, a member of the National Association of Jewellers, has received one of its most unusual commissions...

6 Dec 2023

Reynolds’ Butchers in Parbold, near Wigan, have set up a scheme called Mary’s Mince to help people living in the village.

5 Dec 2023

Research commissioned by American Express Shop Small reveals the top 10 high streets for independent shops in the UK, shining a light on the nation’s small businesses that play...

5 Dec 2023

A new campaign is calling on police & crime commissioners to tackle crime on a local level, as theft against convenience retailers reaches record highs.

4 Dec 2023

Recent data from VistaPrint, reported by London Loves Business, has revealed that 70% of London small businesses generate up to a substantial 86% of their annual revenue...

23 Nov 2023

Retail sector leaders have expressed a range of concerns, from taxation to business rates, following the Chancellor’s Autumn Statement this week.

22 Nov 2023

Six independent bookshops from around the UK have been named as the winners of the inaugural Booker Prize Indie Bookshop Spotlight, a competition in which independent bookshops and booksellers...

21 Nov 2023

The National Federation of Subpostmasters has received a response from new Conservative party chairman Richard Holden MP regarding the petition to keep DVLA services in post offices.
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21 Nov 2023

The British Business Bank has launched a new guide aimed at smaller businesses to help them understand how different financial products can support them at all stages of their development.

21 Nov 2023

Independent retailers across the UK are set to defy the Black Friday sales frenzy for the third year running, according to a survey conducted by Bira, the British Independent Retailers...

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Third of small businesses not driven by profit

Posted on in Business News , Cycles News , Outdoor News

Peak b, the campaigning organisation for small business, have released a new report into the impact of small businesses on their communities.

The Small Business Community Impact report is the culmination of four months of research, interviews and online surveys with thousands small businesses and the findings offer hugely positive opportunities for small business, communities, government and the wider economy. Sponsored by Indeed and TSB, the report highlights that many small businesses are about far more than profit.

  • 90% of small businesses believe they have an important role to play in communities
  • Over a third (38.4%) are not driven primarily by profit
  • Over a third (36.6%) have kept on a member of staff when they didn't commercially need them any more
  • Over three-quarters (77%) of small businesses actively support local organisations - including charities, schools and foodbanks - despite the everyday challenges that founders face running their own businesses
  • And almost half (48.5%) have created employment for an individual to give them an opportunity, above and beyond the business's needs

What is clear is that small businesses are creating enormous value in bringing communities together, providing opportunities for those furthest from the job market (e.g. disabled, those with mental health challenges, the young, long term unemployed, ex offenders, refugees) and reducing reliance on welfare and other local and central government services. Collectively these small acts add up to huge economic benefit to the UK as a whole.

In a trend that shows the people-first approach of the sector, 78% of small businesses say they create training opportunities for their staff, with 28% offering this for the wider community as well. Furthermore, 70% of small businesses offer flexible working opportunities.

To read the full report visit https://peakb.uk/sbci

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