Over half a million small businesses in the UK are closing for the full two-week period over Christmas, according to research by the Federation of Small Business (FSB).

This is the highest figure in over a decade and equates to almost 10% of small non-retail businesses in the UK.

"Obviously small retailers won't be closing, but small manufacturers and self-employed workers such as electricians and plumbers will be downing tools,"' said Stephen Alambritis of the FSB.

Many small firms are closing for longer over the holiday period to save money on wages and in office bills such as electricity and phone calls.