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Independent Retailers Association warns of difficult year ahead.

8 Jan 2024

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.
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Indie Retail Christmas Opening Hours

20 Dec 2023

The Indie Retail office will be open as usual (9am-5pm) for the majority of the Christmas period, with some exceptions.
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Bira CEO addresses surge in retail crime on the BBC

19 Dec 2023

Bira's CEO, Andrew Goodacre, took the spotlight on BBC Breakfast this week and later spoke with Nicky Campbell on BBC Radio 5 Live, shedding light on the rise in retail crime and shop theft,... Read more…

Dress shop crowned winner of Cambridge Christmas shop window competition.

18 Dec 2023

Dress shop Pocket Watch & Petticoats in Trinity Street has been crowned the winner in Cambridge BID’s Christmas window competition.
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Bira issues guide to protecting yourself against festive cyber scams

18 Dec 2023

In the age of online shopping, the pursuit of the best deals during the festive season is increasingly common. However, as consumers flock to virtual marketplaces, cybercriminals are seizing the... Read more…

Shoplifting now among the most common crime against small firms

18 Dec 2023

Fresh evidence about the increasing problem of thefts from shops has been revealed amid a warning that organised shoplifting is now among the most common type of crimes against small firms.
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Oldest record shop in Liverpool reopens with museum to celebrate city's musical heritage.

18 Dec 2023

One of the North West’s oldest record shops has reopened after 14 months, creating a small museum to pay tribute to its long-standing musical connections with the city.
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Indie jewellery retailer creates unique gold ‘Key Ring’ for new ITVX series

6 Dec 2023

Bristol and Cirencester-based bespoke fine jewellery retailer Titcombe Bespoke Jewellery, a member of the National Association of Jewellers, has received one of its most unusual commissions... Read more…

Family-owned butcher’s shop hopes 'Mary' will help Wigan families in need of food.

6 Dec 2023

Reynolds’ Butchers in Parbold, near Wigan, have set up a scheme called Mary’s Mince to help people living in the village.
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American Express Shop Small Highlights UK’s Top High Streets for Independent Shops

5 Dec 2023

Research commissioned by American Express Shop Small reveals the top 10 high streets for independent shops in the UK, shining a light on the nation’s small businesses that play... Read more…

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BRC calls for 2-year business rates freeze for retail

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

The British Retail Consortium (BRC) is calling for a two-year freeze on business rates increases to provide some relief for the retail industry at a time when it is under significant cost pressure and is going through a period of transformation driven by technology and changing consumer behaviour.

According the BRC, the current business rates system is unsustainable. The retail industry, the UK's largest private sector employer, makes up 5% of the economy and pays nearly 25% of the overall business rates bill, over £7 billion per year. This is a disproportionate burden and is leading to decisions to close stores, while at the same time getting in the way of the modernisation and reinvention of Britain's high streets.

Helen Dickinson OBE, Chief Executive of the British Retail Consortium said "This comes during a period when the industry is dealing with increasing costs, many resulting from government policies such as the Apprenticeship Levy or National Living Wage. At the same time, retail businesses are investing heavily in retraining their workforce for the digital economy, and in new technology to cater for the ways people now want to shop - £5.3 billion in 2016 alone - all of which will improve the productivity of the industry.

"The pressure this is creating on the industry can be seen in the fact that there are nearly 2,500 fewer retail stores in the UK than there were three years ago, and since 2014 there have been over 3,200 retail insolvencies in the UK and a number of high profile CVAs. Industry profitability is also falling with net profit around 2.5%, down from 4% over the previous five years.

"Fundamental reform of the business rates system is needed and must be considered as part of a wholesale modernisation of business taxation. Our proposal for a two-year freeze in rates increases would take some of the cost pressure off retailers, while allowing time for a dialogue between government and industry to develop a proposal for a modern business taxation system, fit for commerce in the 21st century, which supports business growth and improves productivity.

"The current business rates system is not fit for purpose. It is a 20th century answer to a 21st century problem. Retail shoulders far more than its fair share, and the rates bill is leading to store closures and getting in the way of reinvention of our high streets. We're calling on government to freeze business rates until the 2021 revaluation to relieve the burden of this unfair tax on retail businesses and allow time for dialogue about the wholesale modernisation of business taxation. This would be welcome government support for the country's largest private sector employer at a critical time."

 

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