Independent shops across East Midlands face challenging start to the year
The local FSB says it's due to people spending less in January
Independent shops across the East Midlands are facing a tricky few months, as the Federation of Small Businesses warns that January and the first quarter can be the toughest time for local retailers.
With many people spending less after Christmas and the New Year, small businesses are battling higher energy costs and preparing for the new financial year.
The FSB is urging shoppers to continue supporting local shops, even if it’s just for a small treat or purchase, to help them get through until the busier months return.
The first three months of the year can be quite difficult
Katrina Pierce, one of the regional managers from the Federation of Small Businesses, said:
“The first three months of the year can be quite difficult."
"Obviously, people tend to spend less after the indulgences of Christmas and the New Year period."
"It's in the darker months when energy is costing those businesses more, and it's in advance of the new financial year. So it can be quite a difficult quarter."
"So anything that people can do to spend even a little bit of time and a little bit of money in those establishments will help them get through it towards what will hopefully be a really good summer."
"People have less money to spend and they're certainly more discerning about how much they spend, on what and with whom."
"But really would encourage people to think twice before going in one of the big high streets chains, when they could probably shop with a really precious, local independent. That means a lot more to that local community."
The FSB says that continuing to shop local over winter could make all the difference for independent shops, who are vital to local communities and high streets.