Indie retailers under more pressure than ever says new survey
But it's not all doom and gloom. The findings collated by Spring & Autumn Fair in conjunction with SaveTheHigh Street 'uncover a clear path forward, and a resilient sector still determined to fight for its place at the heart of British communities'.
However, negativity was certainly strong. The survey, which collected insights from over 250 independent retail businesses, revealed that over 50% of them 'have considered closing their business'.
The biggest challenges they face include reduced customer spending and footfall (63.4%), competition from online giants (57.4%), and rising wage and employment costs (39%).
Other major concerns include rising rent and property costs (21.1%), high business rates (14.7%), and a lack of sufficient funding for high street regeneration (22.7%).
Reflecting a 'growing sense of frustration', 84% of independent retailers said they 'lack confidence that the government is doing enough to support them'.
Most are small operations, with 89.4% running a single store and 86.3% employing fewer than five people, 'highlighting just how vulnerable they are', the report said. And despite their resilience, with 62.8% trading for more than three years and 36.7% for over a decade, 'many now find themselves at a crossroads'.
What retailers say they need
When asked what would make the biggest difference to their business, independent retailers sent a clear and coordinated message, 'targeted support and practical action are urgently needed'.
The most common request to government was increased grants or funding for small businesses (39%), followed by a freeze or reduction in business rates (26.7%).
Retailers also highlighted local improvements that would have a tangible impact on day-to-day trade, including better high street infrastructure (49.4%), more community-focused events to drive footfall (49.8%), affordable parking (46.6%), and stronger marketing support (76.9%).
The findings also highlighted the vital role independent retailers play in their communities beyond commerce. Some 64.1% described their store as the 'social heart' of the area, while 57.4% offer services that national chains often can't, including personalised advice, special orders, and local expertise. Many also support vulnerable residents, preserve the unique character of their high streets, and provide the foundation for future regeneration.
The report said that the message from Britain's independent retailers is clear, 'they are ready to adapt, innovate, and lead the rejuvenation of their high streets, but they can't do it alone'.
'While some government initiatives, such as pedestrianising high streets and localised regeneration pilots, show there is awareness of the problem, they simply don't go far enough to address the scale and urgency of the crisis'.
Spring & Autumn Fair and SaveTheHighStreet.org are therefore urging policymakers 'to listen to what retailers are telling them and take immediate, practical steps to ease the burden on small businesses'.
This includes 'urgent action on business rates, targeted funding, and investment in infrastructure that helps footfall grow again'.
'Without meaningful support, the cost of inaction will be measured not just in closed shops, but in lost communities. The future of Britain's high streets depends on swift, coordinated efforts from government, industry, and communities alike', they said.
Soraya Gadelrab, event director at Spring & Autumn Fair, added: 'This data shows how much independent retailers are struggling – but also how much they matter. The high street is more than a place to shop. It's a space for connection, culture, and community. If we want thriving towns, we must start by backing the businesses that hold them together.'
Alex Schlagman, founding partner of SaveTheHighStreet.org, also said: 'These findings reveal just how critical it is to remove the barriers holding small retailers back. Through smarter support, local partnerships, and focused innovation, we can level the playing field and ensure independent businesses thrive in a changing world.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fashion Network
4 days ago
- Fashion Network
Burberry tops list of UK M&A targets in new Bloomberg survey
British companies, including Burberry Group Plc, dominate the ranks of European-listed firms seen as potential takeover targets, with discounted UK equity valuations making them increasingly attractive to buyers. London-listed stocks account for about 60% of companies mentioned in an informal survey conducted by Bloomberg News in July. The poll included 44 risk-arbitrage desks, traders, and analysts. Burberry, the iconic trench coat maker, was the most frequently cited company, selected seven times. UK stocks have remained favored M&A targets over the past year, partly due to their relative undervaluation compared to international peers. This has led to a series of delistings that have further reduced the size of the local stock market. London's FTSE 100 Index trades about 13% below the Euro Stoxx 50 Index and 41% below the S&P 500, based on valuation relative to earnings forecasts. In Burberry's case, there are signs that the brand is beginning to deliver on its turnaround plan under Chief Executive Officer Joshua Schulman. After back-to-back annual declines of 30%, the stock has risen 32% in 2025. According to Emmanuel Valavanis, an equity sales specialist at Forte Securities in London, Burberry's brand equity could be attractive to a larger luxury group 'not afraid to pay up for bolt-on growth and an iconic label.' However, the transformation is not yet complete. 'Burberry's renewal effort still needs more work,' said Graham Simpson of Canaccord Genuity Quest, adding that a potential suitor would likely focus on extracting synergies. BP Plc and Anglo American Plc also featured among the leading UK takeover candidates, consistent with their inclusion in a similar January survey. Rightmove Plc, the online property portal, received four mentions after drawing multiple bids last year from Rupert Murdoch's REA Group. UK dealmaking 'roared back' in the second quarter, said Patrick Sarch, head of UK public M&A at law firm White & Case LLP, in July. 'We anticipate more bids for UK companies from US and corporate bidders, and that the financial services, infrastructure, natural resources, and tech sectors will continue to be active,' Sarch added. Outside the UK, the recent trade agreement between the European Union and the United States is expected to 'encourage corporates to go ahead with planned transactions,' according to Eric Meyer, head of RBC Capital Markets in Paris. Among continental names, Carrefour SA was a frequently mentioned target, cited four times by respondents. The supermarket chain is currently reviewing its portfolio to improve its valuation and recently divested its struggling Italian business. European banking M&A also remains active, continuing a trend from 2024. Commerzbank AG was again a popular name in the latest survey. UniCredit SpA, which has expressed interest in acquiring Commerzbank, increased its stake to about 20% this month. The move makes UniCredit the bank's largest shareholder, overtaking the German government, which remains opposed to a takeover. 'Bank deals are becoming more complicated,' said Nicolas Marmurek, co-head of special situations at Square Global Markets. 'Successful bidders will need strategy, timing, and just the right dose of political finesse.'
Euronews
4 days ago
- Euronews
Trump cancels development of new offshore wind projects
US President Donald Trump has cancelled plans for the development of new offshore wind projects in federal waters. The Bureau of Ocean Energy Management is rescinding more than 3.5 million acres (1.42 million hectares) designated as wind energy areas off the coasts of Texas, Louisiana, Maine, New York, California, and Oregon, as well as in the central Atlantic. It announced on Wednesday an end to setting aside large areas for "speculative wind development". The decision marks another move by the Trump administration to further suppress the growth of wind energy in the US. Last year, former US President Joe Biden announced a five-year schedule to lease federal offshore areas for wind energy development. However, Trump has been consistently reversing the country's energy policies since taking office in January. Instead, the Republican president has signed a series of executive orders aimed at increasing oil, gas and coal production. Renewable energy rollbacks in the US On Wednesday, US Secretary of the Interior Doug Burgum announced they would end preferential treatment toward wind and solar facilities, which were described as unreliable, foreign-controlled energy sources. The department is also considering withdrawing areas on federal land with high potential for onshore wind power to balance energy development with other uses such as recreation and grazing. Trump has repeatedly expressed hostility towards renewable energy, particularly offshore wind, and his fossil fuel agenda has drawn criticism from climate scientists and advocates. On Thursday, the US Department of Energy also came under fire for praising coal, a move widely criticised as tone-deaf given the urgent reality of climate change and global warming, with worsening climate disasters and extreme weather across the globe. Trump's latest criticism came during a visit to Scotland earlier this week, describing wind turbines as "ugly monsters" on Monday at a press conference with UK Prime Minister Keir Starmer, urging the British leader to rely on North Sea oil and gas instead. A day prior, Trump also attacked wind energy during a press conference with European Commission President Ursula von der Leyen, calling it "a con job" that "doesn't work," misleading claims that have been widely debunked.
Fashion Network
5 days ago
- Fashion Network
Canada Goose posts lower-than-expected earnings in Q1
Luxury outerwear brand Canada Goose reported a larger-than-expected quarterly loss on Thursday, citing rising costs related to investments in design, merchandising, and marketing of its premium products, including puffer jackets and hoodies. The U.S.-listed shares of the Canadian company fell approximately 3% in premarket trading. Despite the drop, the stock has gained about 27% so far this year. The company attributed the higher expenses to the expansion of its global retail network and increased marketing spend, particularly in connection with its Spring/Summer 2025 and Snow Goose campaigns. On an adjusted basis, Canada Goose posted a loss of 91 Canadian cents per share in the first quarter, compared with analysts' average estimate of 88 Canadian cents, according to data compiled by LSEG. Quarterly revenue rose to C$107.8 million ($77.86 million), up from C$88.1 million a year earlier. Analysts had expected a 5.36% rise to C$92.8 million. In May, the company withheld its fiscal 2026 forecast due to uncertainty related to tariffs. ($1 = 1.3846 Canadian dollars)
