‘Working our fingers to the bone’: Can the UK save its struggling high streets?
Summary
Independent retailers on UK high streets face rising costs, online competition and changing customer habits. Birmingham photography shop owner Surpreet Suri says rent, taxes, wages and supplies have made his current location difficult to afford, despite a loyal customer base.Key Facts
- Suri’s father started the family photography business in Birmingham about 40 years ago, and it once had four locations.
- The business now has one shop in Kings Heath, and Suri is considering moving to reduce costs.
- Suri says he pays himself less than the UK minimum wage and lives month to month.
- He says refilling one professional printer with ink costs about 2,000 pounds.
- Online retailers account for 28 percent of UK retail sales.
- Nearly 14 percent of UK high street retail units are estimated to be vacant.
- Independent retailers face costs including rent, business rates, VAT, wages, energy and specialist materials.
- The UK government’s budget is due on Wednesday, with possible business-rates relief for smaller businesses in focus.
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