British Business Bank launches ‘Small Wonders’ campaign

British Business Bank launches ‘Small Wonders’ campaign.

The British Business Bank, announced the launch of its ‘Small Wonders’ campaign, designed to showcase and celebrate the huge contribution of small businesses to the UK economy and society. To launch the campaign, new polling from ICM, the independent research company – commissioned by British Business Bank – reveals the extent to which the presence and contribution of the UK’s small businesses go unrecognised by the public.

Small businesses make up 99.3% of the total UK business population. 98% of the survey respondents underestimated this share, however, with three in four thinking that small businesses accounted for fewer than 60% of the UK’s business population.

The contribution of small businesses to UK private sector turnover is also vastly undervalued. Only one in five (21%) correctly identified their £1.3 trillion, or 33%, contribution to UK private sector turnover. All other respondents thought small businesses’ economic contribution was lower.

The Small Wonders campaign ends on 1 December 2017, ahead of the annual Small Business Saturday on 2 December. For social channels, the campaign hashtag is #SmallBizWonders.

Keith Morgan, CEO of the British Business Bank, said: “The British Business Bank turned three years old at the start of November. We want to raise awareness of the incredible achievements of small businesses and reflect on their enormous contribution to our economy and society. They are Small Wonders and we encourage the public and our partners to get involved in recognising their importance.”

Mike Cherry, National Chairman, The Federation of Small Businesses, said: “Small firms are undoubtedly the unsung heroes of UK society. It’s critical that we rally UK-wide support for small business owners and the self-employed so they can go on contributing more than £1 trillion to the economy annually. With Small Business Saturday fast approaching, these entrepreneurs need the support of shoppers as they face a tough trading environment.”