THREE in four Bradford residents say they will shop local to support small businesses, a survey has revealed.

Many businesses across the UK have been plunged into the depths of economic despair due to the Coronavirus pandemic.

In fact, between March and June 2020, 649,000 UK employees were left unemployed as a result of lockdown.

Small and medium sized businesses are the backbone of the economy, but it appears many would-be entrepreneurs are now too afraid to start their own business, given the uncertainty of the economy over the next few months and possibly years.

InvestingReviews.co.uk conducted a survey (3,000; 18+) which revealed that almost one in five (19%) would-be entrepreneurs in Bradford would consider starting their own business now.

With the pandemic showing no signs of easing any time soon, the majority of people would hesitate to invest money into establishing a new business in such an uncertain national economic climate.

The pandemic has also created a shift in consumer behaviour with perhaps a silver-lining and heart-warming statistic to emerge that 75 per cent of Bradford residents say they are making efforts to shop at and support local businesses during this time, rather than large franchises and chain stores.

Products and materials sourced closer to home are usually more sustainable as they produce fewer carbon emissions, they can also be more expensive – but higher quality – than those you may find at large chain stores. Despite this, nearly half (49%) of respondents say they would be prepared to pay a premium for local products, rather than buy cheaper ones at larger retailers, given the severe strain on local businesses at the moment.

If you are an entrepreneur, there are some benefits to working from home on your own terms, such as no daily commute.

However, there is no denying the loneliness that can arise as a result of working on your own without the company of colleagues. In fact, over one in three (36%) entrepreneurs who have been working from home say they have realised they prefer working with colleagues due to the loneliness of being on their own.