UK Shadow Business Secretary Chuka Umunna has called for the adoption of the initiative in the US – ‘Small Business Saturday’ to support small and independent retailers in the country.

The initiative is expected to provide some much needed succor to small retailers who have been severely hit by the sluggish demand, falling sales and severe economic crunch in the region.

The secretary wrote to credit card firm American Express that organized the one-day business program in US to design a similar version for the UK market as well.

Commenting on plans Shadow Business Secretary Chuka Umunna stated that this initiative is the least that can be done to acknowledge the contribution of local, small, and independent retailers.

"Small businesses are the lifeblood of our economy, play a hugely important role in our communities and add to the unique character of each locality.

"Establishing a Small Business Saturday in the UK, a concept which has enjoyed considerable success in the US, would provide a small but simple and effective way to celebrate local small businesses and encourage more people to buy from them on one of the busiest shopping days of the year," elaborated Umunna.

In the US the ‘Small Business Saturday’ falls on the first Saturday after Thanksgiving and for the year 2012 generated $5.5bn in gross receipts.

Umunna is expectant of securing the backing from local authorities, trade associations and business groups to run the campaign in 2013, most likely on 7 December.