Labour party unveils five-point plan to regenerate UK high street after 13 years of “Tory failure”

Labour has promised to revitalise the UK high street with a new five-point plan that includes reducing business costs and revamping empty shops. The pledge, announced by Keir Starmer and shadow chancellor Rachel Reeves last month, includes £700 million worth of support to help businesses reduce their energy bills and slash business rates for small firms.

The British Retail Consortium says the plan includes welcome elements but is missing key measures such as improving public transport and parking, ultrafast broadband in town centres and transforming future high streets into mixed-used spaces. Chief executive Helen Dickinson OBE says: “The successful transformation of high streets to places with a wider mix of uses requires strong local leadership, proactive councils and effective national policies. It is positive to see Labour focus on some of the steps needed to realise this vision through plans to bring empty shops back into use, tackle anti-social behaviour and support energy efficiency investment, which could help as retailers target net zero by 2040.”

Optimism rising among small business owners, reveals Small Business Index

Confidence among small business owners is slowly recovering, the Federation of Small Businesses’ (FSB) latest Small Business Index reveals.

According to its findings, the headline confidence measure has bounced back significantly from -45.8 points recorded in the last quarter of 2022 up to -2.8 points. However, this is still below the 15.3-point reading registered during the first quarter of 2022.

While optimism is growing, declining sales have been an issue for many small firms this year. Two in five said their revenues fell in the first three months of 2023 (41 per cent), compared with one in three who said they had seen an increase (34 per cent).

The revenue outlook for the next quarter, however, is positive with two in five small businesses (39 per cent) expecting to see their sales rise against one in four (26 per cent) bracing for a decline.

The FSB, which represents more than 150,000 business owners and self-employed workers, surveyed nearly 700 people to collate the index.

National chair Martin McTague comments: “Small firms may be about to turn the corner and rebound

She notes, however, that more could be done to aid a stronger recovery – such as permanently freezing business rates for retailers of all sizes: “There must be a permanent freeze of business rates and a cut to the multiplier in the longer term: it’s crucial that any business rates reform reflects how modern retail works and lowers the burden for retailers of all sizes.” after the pandemic and energy crisis, with confidence recovering alongside improved optimism for Q2.

“However, there are still plenty of dark clouds on the horizon that could dampen small business recovery. The prospect of further interest rate rises is causing significant disquiet, at the same time that costs remain at serious highs. In addition, the withdrawal of the Energy Bill Relief Scheme leaves a group of small firms exposed to high prices in fixed-rate contracts from last year unable to negotiate a new deal.

“While our research may provide a glimmer of hope that things are looking up, it's important to remember that small businesses have shown incredible grit and determination in the face of adversity, and these figures are a real testament to that.”

Harrogate Fashion Week announces growth for SS24 edition

Harrogate Fashion Week (HFW) organisers have confirmed the show’s summer edition will increase in duration to three days and expand its floor space to a fourth hall. The next event, which takes place from Sunday 30 July to Tuesday 1 August at the Harrogate Convention Centre, will be its largest and longest-running edition to date.

Since its first show in July 2018, HFW has become a mainstay on the fashion trade show calendar, offering one of the latest ranges of womenswear and occasionwear brands under one roof alongside footwear and accessories.

Co-founders Wendy Adams and Sarah Moody say its last event in February attracted over 35 per cent more visitors than the year before – and they are expecting an even bigger turnout for SS24:

“We are already receiving enquiries from boutique owners all over the UK who want information on the show,” they say. “Many will be visiting us for the first time this season.”

Over 90 per cent of exhibitors rebooked space following its most recent edition, with brands such as Foil, Pomodoro, Lizabella, Marble, Sahara, Bariloche, Dolcezza and Rino and Pelle all preparing to present their SS24 collections.

Summer’s HFW will also showcase a strong occasionwear offer with key labels including John Charles, Gabriela Sanchez, Fely Campo, Veromia and Irresistible confirmed as exhibitors. There will also be an expanded range of accessories brands on offer from the likes of Suzie Blue, Eliza Gracious and Envy jewellery. Finally, the show will present an ever-increasing selection of footwear brands including Lotus, Loretta Vitale, Bagatt and Emis, Lunar, Caprice, Legero and Dibia.

Register for free entry via harrogatefashionweek.com

Small businesses lead e-commerce boom, ONS survey finds

Online sales for UK businesses doubled from £227.4 billion in 2014 to £459.2 billion in 2021, reveals the Office for National Statistics’ (ONS) Digital Economy Survey.

Retail was by far the highest generator of web-based transactions in 2021, with 34.5 per cent of all retailers selling online. UK shoppers contributed £381.4 billion to the year’s overall spend while overseas shoppers spent a further £77.8 billion.

Small firms employing fewer than 10 people generated around 10 per