EETG The value that small businesses add to the economy

EETG The value that small businesses add to the economy ~ here are some fascinating and very important results from our recent members survey   In total there are 200 small businesses in the East End Trades Guild. Collectively, scaled up from our survey, we found the East End Trades Guild members represent 7,410 years […]

EETG The value that small businesses add to the economy ~ here are some fascinating and very important results from our recent members survey

 

In total there are 200 small businesses in the East End Trades Guild. Collectively,
scaled up from our survey, we found the East End Trades Guild members represent
7,410 years of trading in the East End.

  • Members employ 1200 people, of which 1114 live in London
  • In total we have a turnover of £77 million
  • Members put £17 million people’s pockets through wages last year, and £26 million of our supply chain supports other businesses in London
  • Members pay £1.3 million in business rates, and £5 million in VAT and £2.3 million in National Insurance contributions, every year.

We offer customers a human touch and meaningful interaction.

  • We are the “face of the community” for international visitors and locals, serving 520,000 people per month. Our businesses know an average of 80 customers by name.
  • We have intimate local knowledge – we guide people to resources and other businesses, supporting each other.
  • Our relationships with local people help address social isolation and child safety, and our relationships with the police supports greater public safety and crime prevention.
  • We offer a quality of service based on in-depth product knowledge, and we build a loyal customer following.

We offer distinctive, unique products. We are specialists in our sector, attracting
visitors to the area from across London and overseas.

  • We are daring, risk taking and creative. Despite being small, many of us are “born global” – with international trading partners and customer base. 20% of our sales are made to foreign visitors.
  • We showcase local products craft workers and artisans. We support locally manufactured items.
  • Being small means we can be flexible and closely attuned to customer demand. We “can boldly go where no business has gone before”.

We carry the history of the East End in our businesses. We are caretakers of historic buildings and we “add a narrative to the memory of the place we’re in”.

We are rooted in the social fabric of the East End. We serve as trustees, governors and take on social and community responsibilities to support local residents: “we work with schools in our area trying to build readers amongst their children by bringing in authors for them to meet and inventing festivals to excite children about reading.”