New data has revealed that 11.3pc of the UK\’s retail space is now standing empty.
In entirely unconnected news internet sales are now some 12% of all retail spending.
New data has revealed that 11.3pc of the UK\’s retail space is now standing empty.
In entirely unconnected news internet sales are now some 12% of all retail spending.
Or business rates were jacked up by councils during the consumer boom but haven’t come down when everything went tits up?
I love internet shopping : the widest range of products without having to find and pay for parking and battle for the attention of a shop assistant.
Most small shops are pretty marginal businesses anyway, compared to chains.
A squeeze between:
– high rents
– high business rates
– national minimum wage
– increased use of the internet for specialist purchases
– decline in consumer spending
…was always going to push a lot of shops into insolvency.
Unless there is a significant change in the above dynamics, expect to see the high street continue to decline.
Rob, councils only bill and collect business rates and then pass on to a central pot. Everything else is done centrally, including valuation and distribution of the monies collected.