Or so claims Simply Business, the UK’s biggest business insurance provider. It says its annual analysis of sole traders and micro businesses shows a “meteoric rise in consumers turning to independent, local shops and tradesmen over recent years”.
It also shows that consumers are actively “backing away from chains and multinational corporations in favour of independent traders, with the number across the UK rising by 110% in the last five years”. “It is pleasing to see support for small businesses,” says Simply Business CEO Jason Stockwood. “The tide seems to be turning, away from chains and big corporations. Small businesses play a huge role in local communities and have a meaningful impact on the broader economy. I hope to see this trend continue for years to come.”