The big challenges for small businesses

New research from Royal Mail indicates that small businesses believe that lower consumer spending (15%), Brexit (10%) and recruitment (9%) are the biggest challenges they have faced this year.

The study – in which YouGov gathered the opinions of 1,001 “senior decision makers” – also found that only 13% of small businesses expect the festive period to be busier this year, compared to 19% of medium and 23% of large businesses.

Managing change, restructuring and cyber security were not named as challenges by any of the small businesses surveyed.

Royal Mail has issued the findings of its survey ahead of the UK’s “Small Business Saturday”.

Nick Landon, Managing Director of Royal Mail Parcels, said: “Lower consumer spending is a key challenge for small businesses in Britain. It’s important that consumers support local and smaller businesses on Small Business Saturday, over the Christmas period and throughout the year. Small businesses sit at the heart of the UK economy and are integral to the running of our country.”