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Small Business Strategy Inquiry 2025 - ACT and Bira call for members to share their voice

20 Jun 2025

The House of Commons Business and Trade Committee has asked the ACT, and its parent company Bira, to help them reach out to small business retailers across the country, for their quick input on... Read more…

Beyond the discount: Restoring integrity to the cycle supply chain

18 Jun 2025

The Association of Cycle Traders believes the time has come for greater accountability throughout our supply chain, writes ACT Director Jonathan Harrison in an article published for BikeBiz.
Read more…

Bira welcomes Wales' business rates proposals but calls for key improvements

11 Jun 2025

Bira has welcomed the Welsh Government's consultation on business rate reforms for retail shops, whilst calling for significant improvements to ensure the proposals truly support high street... Read more…

New awards launch to champion Britain's independent high street heroes

9 Jun 2025

Retailers on Britain's high streets are being encouraged to put themselves forward for the first-ever Love Your High Street Awards, designed to celebrate the small businesses that bring... Read more…

"Tectonic shift" in employment law threatens independent retailer viability, warns Bira podcast

6 Jun 2025

Independent retailers are facing a "generational" transformation of employment law that could fundamentally change how small businesses operate, according to the final episode of Bira's first... Read more…

Retailers hope warm weather and bank holidays will boost high street sales

16 May 2025

ACT parent company Bira has said that members are hopeful the warm weather, Easter weekend and upcoming bank holidays will provide a much-needed boost to high street sales.
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Economic growth surges to 0.7%, but "April reality check" looms for high street retailers

15 May 2025

UK economy delivers strongest quarterly performance in a year despite forecasts of business downturn.
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Communities come together for Local Bike Shop Day 2025 celebrations

13 May 2025

Local Bike Shop Day 2025 brought a wave of... Read more…

ACT parent company Bira welcomes Bank of England's latest interest rate cut

8 May 2025

ACT parent company Bira has welcomed the Bank of England's decision to reduce interest rates from 4.5% to 4.25%, calling it a "much-needed boost" for the retail sector, including for cycling... Read more…

ACT parent company Bira responds to Beales' "Rachel Reeves Closing Down Sale" as iconic store makes final protest

8 May 2025

ACT parent company Bira has responded to the news that the 144-year-old Beales department store is staging a "Rachel Reeves Closing Down Sale" in its final weeks of trading, with giant yellow... Read more…

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Independent Retailers Association warns of difficult year ahead.

Posted on in Business News

The British Independent Retailers Association has said 2024 is anticipated to be a challenging period for shop keepers as economic challenges are still set to bite.

Andrew Goodacre

Bira, which works with over 6,000 independent businesses of all sizes across the UK, said they were expecting more challenges coming up in the coming months - and urged businesses to prioritise resilience and adaptability.

Andrew Goodacre, CEO of Bira said: While optimism usually accompanies a new year, we anticipate 2024 to be another challenging period given the prevailing pessimism in economic growth.

"We expect inflation to stabilise, and interest rates to remain where they are. Economic stability is crucial for us to focus on economic recovery. Bira recognises the need for a stable economic environment to empower its members and foster a climate conducive to business growth," he said.

Mr Goodacre added that consumer confidence also remained key. He said: "Consumers will still lack confidence and will be looking for value and strong brands. We are committed to supporting our members in meeting evolving consumer preferences, ensuring they remain competitive in the market."

Contrary to the digital trend, Mr Goodacre said they had noticed a surprising shift, adding, "The penetration of internet shopping declined in 2023, and we do not expect it to increase in 2024 – most people will want to buy in shops. This insight underscores the enduring importance of brick-and-mortar stores in the retail landscape."

Bira also urged shops to not overlook other important opportunities.

"The older generation represents a real business opportunity – higher levels of wealth and disposable income. We ask that retailers recognise the potential of this demographic, and not to ignore the often-retired generation's significant purchasing power," he said.

Looking locally, Mr Goodacre said there were many opportunities in community collaboration. He added:  "Other opportunities will still be local shopping and business communities working together to create a vibrant, diverse high street that people want to visit and where they want to spend time and money." 

Mr Goodacre added that the political landscape also would have a huge effect on 2024. He said: "We will obviously have a general election, and while many may welcome a change of government, it will lead to a period of instability." 

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