The future of the High Street under scrutiny in major new FSB report

The Federation of Small Businesses (FSB) has published 'The Future of the High Street' report, which calls for local authorities to create a specialised fund to support pop-ups, markets, and temporary use initiatives for businesses to set up in town centres.

The major new report, which follows a large-scale survey of small businesses, also highlighted the need for modern public toilets, improved parking and transport, and family-friendly services like creche facilities to help trade in high streets.

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"Small independent businesses on the high street provide not only great goods and services but create lots of jobs and are an essential part of community cohesion," said Sam Holliday, FSB development manager for Gloucestershire, Bristol, Bath and South Gloucestershire.

"Our report shows there is a real willingness among retailers to make the high street work but they know they can’t do it alone.

"They need support from everyone including our local authorities who play such a pivotal role."

The research also found nearly half of high street small businesses in the South West say they would not survive without the current Small Business Rate Relief (SBRR).

FSB believes that to help small firms to grow further, the SBRR threshold should be increased from £12,000 of rateable value to £25,000.

Over 60 per cent of the region’s SMEs say that a diverse range of independent businesses is one of the most important factors for the long-term sustainability and future of their local high street – and they have called for a concerted effort to help.

"We all have a role in this as we all get to choose where to spend the money we earn. Supporting local shops is an investment in local business and local people and we all have to take that responsibility seriously," said Holliday.

For the full report and FSB recommendations see HERE.