UK: Independent clothes shops in high street decline | News

Independent and start-up hospitality businesses, such as restaurants, pubs and cafes, are trumping independent retail stores on the UK high street, according to research by insurance provider Simply Business.

 A study of 75,000 high street businesses quoted by Simply Business since 2008 shows that last year 31% were restaurants, pubs or cafes, an increase of 2% since 2008.

 In contrast, the number of independent clothes shops has declined, making up only 5% of high street businesses in 2010, compared to 6% two years ago.

 The results suggest that independent fashion retailers are struggling to compete with the big high street chains and the increasing number of shopping malls, such as Westfield in London and the Bullring development in Birmingham.

 "With the Government currently focused on increasing the number and diversity of independent retailers in Britain's towns, it's crucial that start-ups don't fall at the first hurdle and have every opportunity to compete with the big boys," said Jason Stockwood, CEO of Simply Business. "This means favourable planning laws, affordable business rates and easily accessible advice, support and finance."

via just-style.com

Posted via email from UK Pubs For Sale And Development