Local politician Adam Price is backing the Small Business Saturday initiative this weekend, and has urged residents to champion our local shops in the run up to Christmas.
As news channels cover the queues of people lining up outside major retail stores to grab a ‘Black Friday’ bargain, Assembly election candidate and former MP Adam Price said he would be supporting the “backbone of the Welsh economy” – the small and medium enterprises which make up 99% of all businesses in Wales.
Small Business Saturday encourages us to shop on our high streets and raises awareness of the benefits of shopping locally. For every £1 spent in a local shop, 63 pence is re-invested in the local economy. Figures from the initiative suggest 16.5 million people in the UK shopped in small businesses during last year’s event, representing a 20% increase in footfall from 2013, or 2.7million extra shoppers.
Championing a cut in business rates, Adam Price set out what politicians and government could do to better assist independent stores in conjunction with us spending our money locally.
Adam Price said:
“With the increasingly challenging task of making our money go further, it’s completely understandable that we look for the best possible deals on the high street. It’s human nature to look for a bargain.
“The consistent rise in internet shopping means we can get everything we need without even leaving the house. But research has shown that substantially more money spent in local stores is then reinvested locally. Supporting our small, local businesses can therefore have a profoundly positive effect on our economy.
“If every small business in Wales was able to take on just one extra member of staff there would be no unemployment in the country. So, there is absolutely a job for the Welsh government as well as consumers.
“Plaid Cymru wants to cut business rates and take 70,000 Welsh businesses out of paying rates altogether. We can create a staggering 50,000 jobs by ensuring that the £4.3billion which is spent every year in public procurement is actually spent in Wales. Currently around half of that money is spent outside Wales which does nothing to benefit local businesses or enable them to expand and increase their workforce.
“Working together, the Welsh government and we the people can ensure our small and medium businesses, which make up 99% of all businesses in Wales and are the backbone of the Welsh economy really can thrive.
“I would urge everyone this weekend to consider doing their Christmas shopping as locally as possible in our many fantastic small businesses.”