Independent retailers urge Chancellor - Boost business confidence or risk killing growth before it starts
Posted on in Business News , Cycles News
Britain's independent retailers, including those in the cycling retail sector, are calling on Chancellor Rachel Reeves to use the autumn budget to restore business confidence, warning that mounting uncertainty is strangling the Government's growth ambitions before they can take root.
New research from ACT parent company Bira has revealed a collapse in business confidence, with nearly half of independent retailers (46.2%) expressing pessimism about 2026, and only one quarter feeling confident about the crucial Christmas trading period ahead.
The quarterly Heartbeat survey, conducted with independent retailers throughout the UK including bike shops, reveals that budget anxiety is actively suppressing economic activity right now. "Sales were down as the public are not spending ahead of the Budget," one retailer reported.
The research also reveals that 43.9% of retailers reported worse trading in Q3 2025 compared to Q2, whilst 51.9% said sales were down or significantly down compared to the same period last year.
"Sales were stationary, but due to increased costs, profit was down by 50%," reported one business owner.
When asked about priorities for the autumn statement, business rates reform emerged as the overwhelming concern. With revaluation scheduled for April 2026, thousands of independent retailers face substantial increases in their business rates bills.
With confidence for 2026 at historic lows, only 25.5% of retailers expressing any optimism about next year, businesses are already pulling back on investment plans.
Andrew Goodacre, CEO of Bira, said: "The Chancellor faces a simple choice in this budget - she can boost business confidence and unlock the growth this government says it wants, or she can pile on additional costs and regulations that will kill enterprise before it has a chance to flourish.
"Our research shows that uncertainty is already damaging the economy. Businesses and consumers alike are holding back, waiting to see what Wednesday brings.
"Independent retailers are the engine of the high street and the backbone of local communities. But we cannot deliver growth if we're constantly fighting against rising costs and regulatory burdens.
"Business rates reform cannot be delayed any longer. With revaluation coming in April, thousands of retailers will see their bills rise significantly. Many won't survive that increase on top of all the other cost pressures they're facing.
"This budget is a moment of truth. The Chancellor can choose to back Britain's independent retailers and give them the confidence to invest and grow, or she can ignore the warnings and watch more high streets decline."
The Heartbeat survey was conducted over two weeks in September and October 2025 with independent retailers across multiple sectors throughout the UK, including independent cycling retailers.