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The Times publishes its list of the seven best shopping streets in the UK

24 Jun 2024

The Times has just published its list of the seven best shopping streets in the UK.
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Indie retail village wins Hospitality Hero Velvet Award for 2024

24 Jun 2024

An independent retail village in Ely that celebrates its one-year anniversary this month has won the Hospitality Hero Velvet Award for 2024.
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Bike shop owner slams police’s “abject apathy” after three shops broken into in one night

24 Jun 2024

A cycle shop owner has criticised the police’s “abject apathy” towards bike theft after thieves attempted to break into his store for the second time in a year, on the same... Read more…

A simple comparison of the General Election manifestos

24 Jun 2024

With less than three weeks to go until the General Election, Bira has produced a simple table comparing manifestos for Labour, Conservatives, Liberal Democrats, Green Party and Reform UK, and... Read more…

Independents Day message - supporting independent shops boosts local jobs and economies.

24 Jun 2024

With the annual Independents’ Day weekend coming up on July 6th and 7th, independent retailers have been reinforcing the message that supporting independent shops boosts... Read more…

Euro 2024 predicted to deliver multi-million-pound boost for independent retailers

24 Jun 2024

Research from the British Retail Consortium (BRC) has suggested 6% of shoppers will buy a new TV or electronic device during the Euros, 4% will purchase official merchandise and nearly 10% will... Read more…

Bira leads £1 billion damages claim against Amazon by UK retailers in landmark collective action

12 Jun 2024

A £1 billion damages claim has been filed against Amazon on behalf of retailers selling on Amazon’s UK marketplace for illegally misusing their data and manipulating the Amazon Buy... Read more…

Bira responds to KPMG Retail Sales Monitor report

10 Jun 2024

The British Independent Retailers Association (Bira) has responded to the BRC-KPMG Retail Sales Monitor for May 2024.
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Small independent Harrogate shop does it again at the national level with new awards glory

10 Jun 2024

Independent Harrogate computer shop Phase 4 Computers has been named as a finalist in the Tech Awards 2024.
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Knutsford fashion show highlights town's 'amazing independent shops'

10 Jun 2024

Independent boutiques in Knutsford have teamed up once again to showcase their new designs at the third Flash Fashion.
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Election 2024: what does the indie retail sector want from the next government?

Posted on in Business News

With a general election just weeks away, Andrew Goodacre, CEO of the British Independent Retailers Association (Bira) has placed “reducing the cost of doing business” high on his agenda for the incoming government.

Polling station

Image by John Mounsey from Pixabay

Speaking to Drapers Magazine, Goodacre said:

“High business rates can put significant financial strain on retailers, particularly small and independent businesses. Lowering business rates or implementing reforms to make them more equitable could help alleviate this burden, allowing retailers to invest more in their businesses and support growth.”

He also cited energy costs as a major issue for independent retailers.

“Energy costs can be a significant expense for retailers, particularly as the sector increasingly emphasises sustainability and may invest in energy-efficient technologies.

“Policies that address energy costs, such as incentives for renewable energy adoption or measures to improve energy efficiency, can help retailers reduce their operating expenses while also contributing to environmental goals.”

In the longer-term, the government needed a plan for economic growth, to boost consumer confidence, which is “essential for a healthy retail sector”, he says.

“When consumers feel optimistic about the economy and their own financial situation, they are more likely to spend money on discretionary items like fashion.

“Policies that support economic growth, such as job creation, wage growth and stability in financial markets, can help bolster consumer confidence and encourage spending.”

Goodacre says the new government needs to work to increase consumer expenditure, as retailers rely on consumer spending “to drive revenue and sustain their businesses”.

“By implementing policies that promote economic growth and increase disposable income, the government can support higher levels of consumer expenditure, benefiting retailers across the fashion sector.”

His final priority is that the government supports retailers to move to a more sustainable model, “including both economic and environmental aspects”.

“Transitioning to a more sustainable business model can involve upfront costs for retailers, such as investing in sustainable materials, production processes and supply chain practices.

Government support, such as grants, tax incentives, or access to funding, can help offset these initial expenses and encourage more businesses to adopt sustainable practices, he says.

“The fashion industry has a significant environmental footprint, with issues such as carbon emissions, water usage, and waste generation. Moving towards a more sustainable model is crucial for mitigating these impacts and addressing global environmental challenges.”

Goodacre says the government can help by introducing policies that incentivise or regulate sustainability practices, such as carbon pricing or regulations on waste and pollution.

“By addressing these priorities, we believe the next government can support the fashion retail sector in overcoming key challenges, driving growth, and fostering sustainability.”

 

 

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