The Small Business Community Impact Report launched today by peak b has highlighted for the first time the significant positive impact small businesses have on their local community. Underpinned by a desire to measure the intangible contribution of SMEs, the report reveals the holistic value and purpose-driven nature of small businesses; not only in creating local jobs but acting as agents of social change and regeneration.
Founded by Michelle Ovens, who is also Director of Small Business Saturday UK, peak b is the campaigning organisation that runs national campaigns to highlight the importance of small businesses in the UK.
The Small Business Community Impact Report finds that over a third of small businesses are not solely driven by profit, and an overwhelming number are playing a hugely active role in local communities. Over three-quarters (77%) of small businesses actively support local organisations – including charities, schools and food banks – despite the everyday challenges that founders face running their own businesses.
Across the UK, small businesses play a pivotal role as employers and change-makers in their local communities, with many providing opportunities for disadvantaged groups. Over a third (36.6%) stated that they have kept on a member of staff when they didn’t commercially need them anymore, and almost half (48.5%) have created employment for an individual in order to give them an opportunity, above and beyond the business’s needs.
“We need to recognise the value of small businesses, beyond pure economic and productivity factors…The government and big businesses should be giving targeted support to galvanise these local heroes,” says Michelle Ovens.
Seven Hills co-founder Michael Hayman today interviewed Michelle on the importance of recognising the value of small businesses value to the UK. The agency is proud to support today’s report launch and Michelle’s campaigns to win greater recognition for the work of the UK’s small businesses.
Download the full report here.