As we approach the end of 2024, the retail sector eagerly awaits the Autumn Statement from our new Labour government. Andrew Goodacre, CEO of Bira (British Independent Retailers Association) shares his thoughts on what independent retailers need and expect from this crucial fiscal announcement:
“The past year has been one of significant change for the UK. With a new government at the helm, there’s cautious optimism about fresh approaches to long-standing issues affecting our high streets. However, the challenges facing independent retailers remain formidable.
“As we’ve seen in previous years, the Autumn Statement can have far-reaching implications for our sector. This year, we’re calling on the Chancellor to deliver certainty, clarity, and stability for independent traders – elements that have been in short supply recently.
“One of our primary concerns is business rates. For years, Bira has lobbied for a comprehensive review of this outdated system. We believe that reducing business rates for all high streets would inject much-needed confidence and stability back into bricks-and-mortar retail”
“One of our primary concerns is business rates. For years, Bira has lobbied for a comprehensive review of this outdated system. We believe that reducing business rates for all high streets would inject much-needed confidence and stability back into bricks-and-mortar retail. This isn’t just about helping individual businesses; it’s about revitalising our town centres and communities.
“Energy costs continue to be a significant burden for many of our members. While we welcomed previous support measures, we need a long-term strategy that addresses the unique needs of small businesses. We’re hoping to see targeted support for those most affected, coupled with incentives for energy efficiency improvements. This approach would not only help reduce costs but also align with broader sustainability goals.
“The labour market presents another challenge. Many retailers are struggling with recruitment and retention. We’re looking for measures that support skills development and make it easier for small businesses to invest in their workforce. This could include enhancements to apprenticeship schemes or tax incentives for training programmes.
“Consumer confidence is, of course, crucial to our sector’s success. We’re hoping for policies that put more money in people’s pockets, encouraging spending on our high streets. This could involve adjustments to income tax or National Insurance contributions.
“However, it’s not just about direct financial measures. We need policies that recognise and support the unique value of independent retail. This could include funding for high street regeneration projects, support for local business communities, or initiatives to encourage ‘shop local’ campaigns.
“Digital transformation remains a key issue. While many independents have made great strides in this area, particularly since the pandemic, more support is needed. We’d welcome measures to help smaller retailers enhance their online presence and integrate digital technologies into their operations.
“Sustainability is another area where government support could make a significant difference. Many of our members are keen to adopt more environmentally-friendly practices but find the initial costs prohibitive. Incentives or grants in this area could help accelerate the sector’s green transition.
“As we await the Autumn Statement, it’s clear that the decisions made will have a profound impact on the future of independent retail. At Bira, we remain committed to being a strong voice for our members, ensuring that the unique challenges and opportunities of our sector are understood and addressed at the highest levels of government.
“Independent retailers are the backbone of our high streets and local communities. They bring diversity, character, and personal service that can’t be replicated by large chains or online giants. As such, supporting them isn’t just good economic policy – it’s essential for maintaining the vibrancy and uniqueness of our towns and cities.
“We look forward to analysing the Autumn Statement in detail and will continue to work tirelessly to ensure that the needs of independent retailers are met, both in this fiscal event and beyond. Our sector’s resilience has been tested time and again, but with the right support, I’m confident that we cannot just survive, but thrive in the years to come.”