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Bira warns of 'troubled times ahead' despite interest rate cut

7 Feb 2025

ACT parent company Bira has warned that retailers across Britain face troubled times ahead despite today's Bank of England interest rate cut to 4.5%, as the Bank halves its growth forecast for... Read more…

Free webinar exclusive to ACT members on employment law compliance

4 Feb 2025

The ACT and legal partner WorkNest are hosting an exclusive webinar on how to remain compliant with employment law while making necessary business changes.
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ACT parent company Bira urges Government action as December sales disappoint

23 Jan 2025

ACT parent company Bira is calling for urgent government intervention following disappointing December retail figures, which show sales volumes fell by 0.3% following a modest 0.1% rise in... Read more…

ACT announces new partnership with legal specialists WorkNest

17 Jan 2025

The ACT has teamed up with employment law, HR, and health and safety experts WorkNest as the association's new legal partner.
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Bira comments after BRC release Sensormatic IQ Footfall Monitor Report for December

9 Jan 2025

ACT parent company Bira has warned that disappointing footfall figures for December show mounting pressures on independent retailers, with concerning implications for 2025 as business costs... Read more…

2024 year in review: A message from ACT Director Jonathan Harrison

18 Dec 2024

Director of the ACT Jonathan Harrison has praised the "resilience and adaptability" of the ACT and its members in an end of year message.
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Practical steps to prevent credit card and payment fraud as an independent cycling retailer

4 Dec 2024

As credit card fraud becomes increasingly sophisticated, taking these steps could help you stay ahead of the fraudsters…
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Scottish retailers call for urgent business rates support as gap widens with rest of UK

29 Nov 2024

Scottish independent retailers, including those in the cycling sector, are urging the Scottish Government to provide crucial business rates relief in its upcoming budget, as the disparity in... Read more…

Bira and ACT welcome new House of Lords report on high street regeneration

28 Nov 2024

Independent retailers back call for local leadership and simplified funding.
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Seven-in-ten cycle traders boycott Black Friday as cost pressures mount

26 Nov 2024

Seven in ten cycle retailers across the UK will boycott this year's Black Friday sales event, according to a survey of the bicycle trade by the ACT.
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Independent shops better than big retailers at surviving COVID in the UK

Posted on in Business News

Small shops have been more "agile" at fighting COVID sale slumps than chain stores, according to a new report.

Barista

While independent firms suffered a net decline of 1,833 shops in the first half of 2020, chain stores lost a staggering 6,001 units following the first UK lockdown. Overall shop vacancies increased at the fastest rate since records began in 2013, reaching 13%, according to research by the Local Data Company (LDA).

But the closure trend has seen independent businesses more resilient than larger retailers. Independent shops lost 0.54% of occupied units compared with the 2.77% lost by chains.

Government support initiatives such as furlough, business rate relief and suspension of tenant evictions helped independents weather the pandemic storm. They were also faster to adapt than chain operators, quickly switching to takeaway food and drink services and online selling.

By comparison many high street chains such as Victoria's Secrets, Cath Kidston, Debenhams and Harvey’s furniture have collapsed into administration this year with the closure of thousands of stores.

LDA surveyed every high street, retail park and shopping centre for the report, including more than 400,000 independent stores, between January and August 2020.

Their data reveals some 20,019 closures of independent shops and 18,186 openings compared with 11,120 chain-store closures and just 5,119 openings. The UK has seen a net decrease of 7,834 shops with the largest proportion amongst chain retailers.

Independent service retail was the only sector to experience net growth with a slight 0.1% increase compared to a 1.9% decrease in service units run by large retailers.

Lucy Stainton, head of LDC retail and strategic partnerships said: "The independent market has seemingly fared better as these businesses have been able to be more agile, bringing in new products lines and offering food deliveries; have a smaller cost base to cover during periods of little or no trade and have been able to take advantage of government support schemes."

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