Focus on Lewisham
Independent businesses continue to thrive in Lewisham
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he second instalment of Lewisham’s high streets study – launched by the Council in 2021 – has revealed that independent businesses remain the driving force behind the borough's high streets, constituting two-thirds of all traders, with 65% owned by Black, Asian, and Minority Ethnic entrepreneurs. Research carried out by London South Bank University’s Business School in 2023 across nine of the borough’s bustling high streets showed that despite wider economic challenges and the ongoing cost-of-living crisis, Lewisham’s independent business owners are feeling confident about their futures and positive about the borough.
Two-thirds of high street businesses in the borough are independent, according to research carried out by London South Bank University. would continue to trade in Lewisham over the next two years. •
Over 120 new businesses have opened on local high streets since 2021, with businesses adapting to change by pivoting towards goods and services that can’t be replicated online or are enhanced by inperson customer service.
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50% of Black entrepreneurs now view the Council as business-friendly, reflecting the pro-active steps taken by the Council to improve relationships with the borough’s Black business community through targeted support and the launch of the Black Business Forum.
Other key findings from the survey include: •
Seven in ten independent business owners rate Lewisham as an excellent place to do business. Initiatives such as London Borough of Culture 2022 were highlighted as having had a positive impact on businesses by boosting footfall and increasing pride in the local area.
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There is long-term confidence on the borough’s high streets, with almost 90% of business owners surveyed saying they
This is the second instalment of the Council’s ongoing high streets study, following on from a previous survey carried out in 2021. Lewisham was the first local authority to launch this sort of study, in order to better support independent businesses, tackle systemic inequalities faced by ethnic minority business owners and ensure the offering on local high streets reflects the wider community. Commenting on the results of the survey, Cllr Kim Powell, Cabinet Member for Businesses, Jobs and Skills, said: "I’m buoyed by these results. It's encouraging to know so many of the businesses on our high streets are feeling optimistic about the future and like they can really thrive here in Lewisham. When we launched this survey in 2021, it was about listening to our independent business owners so we could pinpoint the challenges they were facing and tailor the support they needed to overcome them – whether that was upskilling or building stronger professional networks. In this report, we’re seeing the fruition of the measures we took in response.” You can find the full report on our website lewisham.gov.uk/highstreetstudy
What do you think of our plans for Lewisham town centre? After successfully bidding for money from the Government’s Levelling Up Fund, Lewisham Council is investing £24m in Lewisham town centre.
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his is an exciting project that makes major improvements and provides a space for everybody to enjoy – increasing footfall, boosting the local economy and creating new jobs. Specifically, we are using the funding to: · Transform Lewisham Library into a Library, Culture and Business Hub
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· Revamp Lewisham Market with a new layout and iconic canopy design · Revitalise the high street so it’s cleaner, greener and safer to get around Our plans are now ready and we’re very keen to hear what you, our local business community, think. Have your say through the public consultation we are running from Monday 29 January to Friday 8 March 2024.
There are various ways to get involved. Complete the survey online, fill in a paper survey, or drop-in to see us at Unit 25 in Lewisham Shopping Centre which we are taking over for February. The drop-ins are a great opportunity to see the plans and models in person, as well as to have your questions answered by Council officers. Visit lewisham.gov.uk/lewishamtc for more information and to have your say
