The event was created to encourage consumers to “shop small” and favour their local independent stores over high street chains.
Speaking about the success of the day Small Business Saturday campaign director Michelle Ovens said: “To see spend reach £249 million more this year than on the first Saturday in 2013 – an increase of 53 per cent – is fantastic. It confirms the positive stories that we’re hearing from small businesses in communities across the UK,”
Last Saturday saw the fourth annual Small Business Saturday take place, with over 20,000 retailers taking part in the event. Many offered discounts to entice shoppers and American Express cardholders gained £5 credit for every £10 spent in a independent retailer.
Chairman of the Federation of Small Businesses Mike Cherry added: “It’s important as a nation that we champion small businesses the whole year-round, because everyone benefits when small firms thrive.”