The demise of the high street has been a well documented. However, it seems there has been an interesting development in terms of its future.
Many customers complain about the fact that if you go to any high street in the UK, the range of shops available will be almost identical. However, not anymore if the findings from a recent survey, from the ONS is to be believed.
According to the report, independent retailers are popping up in high streets all across the UK, in spaces previously occupied by more traditional high street chains. The findings of the report revealed that the number of independently run businesses increased by almost six per cent in 2009.
Richard Kitchen, founder of the ‘Forum of Independent Companies’, comments: “The high street has been a major casualty of the economic downturn. However, its decline has provided more room for the independent retailer to establish their business with minimum expenditure. This is extremely encouraging for those considering company formation.”
John Joyce, managing director of commercial leasing agents ‘JJ Lettings’, comments: “Small businesses have always been the backbone of our economy. The consumer is sick of going shopping only to be facing with a homogenous high street – why bother to go out shopping when it is boring and you can get the same stuff online. We have noticed a sharp increase in the number of independent and family run businesses taking out a lease on commercial property and – in my opinion – it can only mean good things for the UK’s economy.”