Black Friday is letting small retailers suffer
Consumers say they want to support small businesses, but Black Friday tells a different story, writes Holly Tucker in today’s Notebook
Do you actually care about small businesses?
For four years now, I’ve made it my mission to turn Black Friday on its head and encourage the nation to celebrate the colour and creativity that small businesses bring to the UK instead. As the founder of small business marketplace Holly & Co, and Notonthehightstreet before that, I’ve been lucky enough to have a birdseye view of the remarkable talent, grit and craftswomanship this vibrant community brings to our high streets and online.
So why is it that new research has revealed that consumers want to support independent businesses but still plan to shop with large retailers? In fact, while two-thirds (66 per cent) say they would “hate to see small businesses disappear” nearly half (48 per cent) intend to shop with Amazon, while others plan to visit department stores (25 per cent), and chain stores (20 per cent). The data also revealed 29 per cent want to “do better” and support small businesses through the Christmas period, while 66 per cent would be happier to receive gifts from independent retailers. So let’s get more of us shopping colourfully.
The majority still flock to Black Friday which disproportionately benefits major corporations while small businesses – which contribute £2.8 trillion to the UK economy and employ 16.7m people – are left to compete for consumer attention. Last year, Black Friday sales exceeded £13bn in the UK. Imagine the difference we could make if we helped redistribute that revenue to small businesses, and cut back on the soulless, impulsive consumption that’s as bad for the planet as it is for our spirits.
Today, on Colour Friday itself, I’m urging the nation to vote with their money — to not only bring happiness to loved ones through the unique, handmade gifts they buy, but also to the incredible makers and artists who work so hard to create them.
Why we must champion female founders
Of course people shouldn’t just support female founders, they should support ALL small business founders. Yet we don’t. Just 18 per cent of UK SMEs were led by women in 2022 and for every £1 of equity investment in the UK, just 2p of it goes to fully female-founded businesses. Female entrepreneurs still need championing — especially as we contribute £85bn annually to the UK economy.
It’s why 95 per cent of the small businesses on my marketplace Holly & Co are female-founded. 70 per cent are also mums opting for a more flexible way to work and 80 per cent are aged 40-65. We’re also a 97 per cent female team, on a mission to inspire and empower others.
Plus with more and more heritage crafts being lost (many practised by women), it’s not just important to back female founders but also to support UK craftswomen. Marbling is a tradition now practised by only 12 artisans (including Marmor Paperie, one of the unique artists on Holly & Co). So if you believe in equality, vote with your money when you next shop because championing female founders has never mattered more.
Quote of the week
“Never doubt that a small group of thoughtful, committed citizens can change the world.”
Anthropologist Margaret Mead, who also added that indeed, it’s the only thing that ever has.
Movie recommendation
Lee, the remarkable new film about model turned war photographer, Lee Miller
I can’t imagine anyone bringing this incredible story to life better than the absolute powerhouse, Kate Winslet. She is honestly nothing short of phenomenal. Before I saw this, I’m staggered to say I knew nothing about Lee Miller (now rightfully looked upon as being one of the great American war photographers) but this stunning account of her journey moved me to tears. It’s not an easy watch, largely due to Kate’s unflinchingly human portrayal, but it’s a film that reminds us of the unfathomable strength of women — without a hint of focus on what we look like or the way we should behave. It’s stayed with me ever since and I can’t recommend it highly enough.