A package of new measures has been unveiled to help transform life for small businesses on East Midlands’ ever-evolving high streets, in a major new report by the Federation of Small Businesses (FSB).
Supporting pop-ups and temporary use initiatives for new businesses, creating mobile phone-based loyalty programmes and providing accessible public toilets are some of the recommendations aimed at local government to help the East Midlands’ small firms thrive and grow.
The Future of the High Street report calls for local authorities to create a specialised fund to support pop-ups, markets, and temporary use initiatives for first-time businesses to encourage new ventures and help them set up on the high street.
A total of 39 per cent of high street small businesses across the UK say the availability of affordable commercial space is important for the future of an area. Ensuring temporary spaces are available will not only help fill vacant sites but also provide opportunities for small firms eager to launch on the high street.
The report, which features in-depth analysis following a large-scale survey of small businesses, also suggests a specialised fund to support a mobile phone-based loyalty programme for high street firms and launching community-specific online marketplaces to showcase local shops and services.
The research highlights the need for well-maintained and accessible modern public toilets and family-friendly services like creche facilities on our high streets, encouraging visitors to stay longer, upping footfall and supporting the local economy.
Jennifer Thomas, Development Manager for FSB, said: “It’s important that small firms across the East Midlands are provided with the right environment, infrastructure and flexibility to be successful – and in turn help grow their local economy.
“From the core high street issues of business rates, parking and transport to more innovative asks, this report sets out a raft of recommendations to try to revive our town and city centres and ensure our small businesses are well supported.
“Local authorities can play a pivotal role in improving the experience of a high street, encouraging more people to visit, shop and invest there, and we look forward to working closely with them.
“Our high streets have been through many changes and will continue to evolve – and that’s why it’s so important that the small businesses at their heart are well-equipped for the future.”
The survey found local businesses in the East Midlands saw a range of closures on their local high street since the beginning of the Covid-19 pandemic, including: retail stores (70%), hospitality (64%), banks (62%), post offices (21%), entertainment venues (20%).
Within the report FSB is calling for a band of on-site high street chiefs responsible for the growth and wellbeing of high streets across the country, creating promotion plans and monitoring vacant units within their area. They would work with local businesses, landlords, BID managers and community groups to help encourage growth in the area, as well as lead a Vacancy Taskforce, monitoring commercial properties.
Business rates remain a huge burden on high street small businesses, with the current Small Business Rate Relief (SBRR) a key part of their survival. The research found 36% of high street small businesses in the East Midlands say they would not survive without SBRR. To help small firms to grow further, the SBRR threshold should be increased from £12,000 of rateable value to £25,000.
Good transport links are important for the future of the high street, according to 47% of small businesses in the East Midlands. The report calls for a high street hop scheme providing free bus fares on key routes during peak shopping days to help increase footfall and support local businesses.
43% of high street small businesses in the East Midlands say parking facilities are managed poorly on their local high street. Offering free parking on at least two Saturdays plus two additional days a month, would increase footfall and support local businesses by making high streets more accessible.
