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Do people trust local businesses more than business generally?

People have a dramatically higher level of trust in businesses in their area than they do in UK business as a whole.

Today, we’re publishing a YouGov survey of over four thousand people across the country. It shows that, when people’s feelings about business are determined by their direct experience, they are overwhelmingly positive but that this often fails to translate into support for business generally.

Key facts:
  • 81% of people trust ‘local business’ compared with 57% who trust business as a whole
  • 64% more likely to trust a business with a strong presence in their area
  • 55% agree local businesses often support other businesses in the area by sourcing locally
  • 53% agree businesses in their area are proud to be part of the community

Creating and supporting local jobs is the main thing people say ‘local businesses’ (firms in their vicinity, big or small, that they interact with) should be doing more of to build trust (65%) followed by providing good customer service (61%). The trust-building action people want more of from ‘national businesses’ (firms big and small operating across the UK) is similar, jobs 65% and service 65%.

Through The Great Business Debate, we’re encouraging individuals to recognise that contradiction and are calling on businesses to go further in strengthening their engagement with the areas where they operate. It is also calling on businesses to tell the bigger story of their contribution to communities, jobs and investment more convincingly.

So what do you think? Do you place greater trust in local businesses? What should firms be doing more of locally to build and maintain trust? Let us know in the comments below or twitter using #bizdebate.

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