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4 Mar 2024

The British Book Awards has announced its shortlist for Independent Bookshop of the Year. 

4 Mar 2024

The ACT is happy to confirm the date for Local Bike Shop Day 2024 as Saturday 4 May, the weekend of the early May Bank Holiday.

4 Mar 2024

Research by global fintech company SumUp has revealed the best cities in the UK for independent businesses.

21 Feb 2024

The latest quarterly State of the Industry survey from the National Hair & Beauty Federation (NHBF) shows that the recovery of the sector was slow and steady through 2023 and into January...

21 Feb 2024

The UK has voted for its favourite pun-based shop name, and 'Sew It Seams' - a clothing alteration store in Belfast - has been awarded the top spot. 

21 Feb 2024

Businesses in the Devon town of Ottery St Mary have praised their local council for initiatives designed to help support them and boost trade.

19 Feb 2024

A new ranking of the most popular independent coffee shops in the world has put three UK cafes in the top 10.

19 Feb 2024

Older people could be the financial shot in the arm needed for Britain’s high street, according to research commissioned by the University of Stirling. 

8 Feb 2024

The ACS (the Association of Convenience Stores) has celebrated the crucial role that rural shops play in thousands of communities across the UK in its 2024 Rural Shop Report.

8 Feb 2024

New research reveals that Apple Pay and contactless payments have overtaken cash payments by a landslide as our favourite ways to pay in-store.

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Call for business rates to be frozen as inflation hits 5 year high

Posted on in Business News , Cycles News , Creative News, Outdoor News

Inflation reached its highest level in five years in September whilst the Retail Prices Index stood at 3.9% in the month.

The British Retail Consortium (BRC) said the government must freeze business rates to avoid "misery on the high street".

Helen Dickinson, BRC chief executive, said the rate rise meant shops would be "struggling to survive" next year. The retail sector alone will have to pay an extra £273m in rates.

The hike comes after a business rates revaluation that took place this year, which saw rates rise by as much as 60 per cent for some businesses in London.

Dickinson added: "The consequences of today's RPI figures could be severe for many shops in a precarious position and struggling to survive. Consumers, already seeing household incomes eroded, will face further misery as the pound in their pocket buys them less at the checkout.

"For retailers this will be compounded if UK Ministers fail to act and stem the hefty near four per cent rise in business rates, which is set to add an extra quarter of a billion pounds to retailers' already unreasonable business rates burden."

She added: "For many shops this may be the last straw. Across the country, especially in economically deprived and vulnerable communities, the cost of failing to take action will likely be seen in yet more empty shops and gap-toothed high streets."

 

 

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