In terms of business rate relief, the Fed is optimistic about the future as they see the UK government’s decision to freeze the non-domestic rates multiplier and extend business rate relief through 2023 and 2024 as a positive move. Additionally, The Fed welcomes the introduction of a new scheme that will offer support to those facing an increase in rate liability. According to their analysis, the proposal for non-domestic rate relief of up to 75% would also benefit businesses significantly.
However, despite the expected increased support for retail workers, there is a growing concern that smaller independent businesses may not benefit from this initiative. The proposed plan seems to favor larger supermarket chains, leaving the question of how the government intends to help smaller retailers with their staff development requirements unanswered.
Jason Birks, the Fed’s national president, went on record saying that they welcomed the government acknowledging the critical contribution made by smaller retailers in both the local economy and community. However, according to him, the retail action plan does not offer much assurance to such businesses. “We believe our organization must have a seat at the Wales Retail Forum to consider the issues our members face, many of whom are newsagents and local convenience stores,” he added.
Retail crime remains a significant concern for the Fed members, who continue to face physical and verbal abuse and persistent shoplifting. While the organization supports well-meaning initiatives aimed at curbing these disturbing trends, such as the “Be Kind” campaign, the focus should now shift to analyzing the root causes of such behavior and devising practical solutions. This calls for the establishment of business crime partnerships and initiatives to reduce such activity.
While the retail action plan forms an excellent basis for ideas, it’s critical to have more detailed communication about the envisaged roll-out timeline, plan details, and the Welsh government and Wales Retail Forum’s intentions to achieve their goals. The Fed firmly believes that such consultations will go a long way in ensuring that all stakeholders benefit fully from this initiative.
