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18 Nov 2022

Dave Wilsher ex-ACT Director wins Family Business of the Year at the Kent Invicta Chamber of Commerce awards.

17 Nov 2022

Retail and small business organisations have given a cautious welcome to business-focused aspects of the Chancellor’s Autumn Statement.

17 Nov 2022

Cycle retailers around the UK facing up to the imminent challenges of recession will need to stay one step ahead of the curve to survive. Now is the time to benefit from being part of something...

15 Nov 2022

Belfast City Council is seeking expressions of interest to provide publicly accessible secure cycle storage facilities across the city.

15 Nov 2022

New research from Research Nester has forecast that between now and 2033, the global bicycle market could reach an estimated value of approximately $130 billion, by expanding at a compound...

14 Nov 2022

Ahead of the Chancellor’s Autumn Statement this week, retail expert Mary Portas called on the Government to rethink business rates and VAT to help struggling retailers.

10 Nov 2022

A new report by Ankorstore and retail consultant Mary Portas has found that 94% of independent retailers want the government to act in next week’s budget to preserve the UK’s high...

9 Nov 2022

bira has been offering guidance to retailers on how to take advantage of the Government’s energy bill relief scheme.

7 Nov 2022

Figures from research conducted by global marketing agency Wunderman Thompson Commerce suggested consumers are set to spend up to 50% less than usual this Black Friday, November 25th.

3 Nov 2022

Cycling Industry News’ sixth annual Market Study has today gone live with independent retailers, workshops and mobile mechanics invited to take part by clicking here.

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Indie retailers doubt Liz Truss will help the high street

Posted on in Business News , Cycles News

New research from Ankorstore, an online B2B platform that connects brands and shops in Europe, has shown that independent retailers are relying on the support of local shoppers, rather than the government, to keep them afloat.

The research featured 4,000 respondents made up of 2,000 nationally representative UK consumers and 2,000 UK SME business owners in retail.

Liz Truss

Whilst 69% of the latter felt optimistic that consumers would continue to support their shop, despite the cost-of-living crisis, fewer have faith that the government will positively support independent retailers and high streets (44%).

Gen Z independent retail owners are the most optimistic and hopeful that the new Prime Minister will have a positive impact when it comes to supporting local high streets and independent retailers, with 61% believing the new leader will have a positive impact.

This steadily decreases with age: 52% of 35-44s, 25% of 45-54s and just 17% of over 55s believe the same.

85% of independent retailers are also calling on the government to cut business rates to preserve British high streets, with that figure rising to 90% for those who only have physical stores.

86% of UK consumers have already noticed an increase in the number of empty shops on their local high streets, and three quarters agree that the government should provide more support for independent retailers and shops.

Tarun Gidoomal, UK General Manager at Ankorstore, comments: “Our research confirms the harsh reality that the majority of small businesses do not predict that they will survive the extraordinary pressures that they are currently facing.”

“As a business that champions and supports independent retailers all over Europe, we hope this research serves as a wakeup call to the UK government. Inaction is simply not an option at such a pivotal time for independents.”

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