"Britain's high streets face a critical moment, the Co-op has warned, as new research reveals 60,000 small shops and 150,000 jobs could disappear without urgent business rates reform. The findings, released ahead of the Autumn Budget, show around 7 in 10 UK adults (69%) lack confidence that the Government will deliver on its promise of relief for small businesses - despite repeated pledges in previous budgets."
"If reforms are not delivered, 10% of small high street business owners say they would need to lay off staff, and 1 in 8 say they would be at risk of closure. That equates to tens of thousands of closures nationwide, with significant economic and employment consequences. YouGov research also reveals that over 1 in 2 UK adults (56%) - equivalent to over 30 million people - see local shops as important to their wellbeing."
"Co-op's 6.9 million members are clear: they want thriving local shops, safer high streets and stronger communities. The On Your Corner, In Your Corner campaign responds to this mandate. Insight from Co-op's Big Survey shows 67% believe their high street is dying, 78% say it's worse than five years ago, and 83% see it as vital to community wellbeing. Members are calling for more independent shops and community spaces-proof that protecting local retail is about identity and belonging, not just economics."
Research shows 60,000 small shops and 150,000 jobs could disappear without urgent business rates reform. Around 69% of UK adults lack confidence the Government will deliver promised relief for small businesses. If reforms are not delivered, 10% of small high street business owners say they would need to lay off staff and 1 in 8 say they would be at risk of closure. YouGov finds 56% of UK adults view local shops as important to wellbeing and 74% say communities would lose part of their identity without them. Co-op members express strong support for thriving local shops, safer high streets and more independent shops and community spaces.
Read at London Business News | Londonlovesbusiness.com
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