There seems to be little let up in the problems for small retailers with new figures suggesting that consumer confidence has slumped to a 15 year low.

The Gfk NOP consumer confidence barometer stands at minus 19 in March - down two points from last month - and is the lowest figure on the index since February 1993.

The firm believes that the growing threat of recession in both the US and UK is behind the pessimistic outlook.

Rachael Joy, Gfk spokesperson, explained that there seemed to be little incentive for people to open their wallets.

She said: "With news reports of possible recession in America, fears of recession in the UK, and stock market fluctuations, the consumer's gloom continues to grow."

Yesterday, the British Retail Consortium warned that the forthcoming increase in the national minimum wage will have a "disproportionate effect" on small shops as they find it harder to soak up the extra costs.

RELATED ARTICLES:

• Firms' websites should 'excite customers about brand'
• Businesses 'should pay attention to consumers' opinions'
• Small firms 'should be selective with website offerings'
• MPs 'should buy local this Christmas'
• Small retailers 'facing tough times'