Prime Minister Keir Starmer marked the annual lights switch-on by hosting a Christmas market-style showcase at Downing Street celebrating the best of small firms, frontline workers, and community champions. The event was staged in the run-up to Small Business Saturday, which aims to put the spotlight on the UK’s 5.6 million small businesses.
The celebration underlined the vital role small firms play, considered the “beating heart” of the economy. With data indicating small businesses are on course for a bumper festive season, 6.93 billion USD is estimated to be spent this year, which represents a welcome boost to the economy with a year-on-year increase of 19%. Public support for small businesses remains high, with 84% of people valuing support for small businesses.
The event brought together small business owners ranging from artisan food producers to retailers such as Wakuda, championing Black-owned businesses at local venues like The Halfway at Tal-Y-Coed pub in Wales alongside NHS staff, military, firefighters, and police personnel. The lights were switched on by 14-year-old teenage little picker of the community champion Samuel Salamone in the government’s Pride in Place program.
The Prime Minister stated that the government is “backing small businesses every step of the way” through key support measures outlined in Budget 2025. These key support measures include a 5.63 billion USD business rates support package, continuing Annual Investment Allowance of 1.31 million USD, a new 40% First Year Allowance for main rate assets, an extended fuel duty cut, and doubled eligibility for enterprise tax incentives.
It also recently introduced the Small Business Plan, which includes the most far-reaching reforms to late payments for 25 years, and created a single Business Growth Service to simplify the business support landscape for SMEs.
