150,000 retail jobs at risk without business rate reform, Co-op warns
Co-op has more than 2,300 food stores, 800 funeral homes and a wholesale business supplying around 6,000 additional outlets, employing 54,000 staff
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Around 60,000 small shops and 150,000 jobs could disappear without business rates reform, according to new research from Co-op.
If reforms are not delivered, 10% of small high street business owners say they would need to lay off staff, and one in eight say they would be at risk of closure.
Furthermore, 77% of small high street shop owners say business rates reform is essential for survival. Alongside this, 77% back an online retail tax to level the playing field with online giants.
The findings, released ahead of the Autumn Budget, show around seven in 10 UK adults (69%) lack confidence that the Government will deliver on its promise of relief for small businesses.
Insight from another Co-op survey shows 67% of its members believe their high street is dying, while 78% say it’s worse than five years ago, and 83% see it as vital to community wellbeing.
Shirine Khoury-Haq, Co-op Group CEO, said: “As we approach a critical Autumn Budget, there’s a real danger that the voices of small shops – and the communities they serve – are not being heard. Local shops aren’t just businesses; they’re part of the social fabric of Britain. For some, a visit to a local store is one of the few chances they have to chat to someone and feel connected.
“This research shows a clear public mandate for action. Regardless of how they vote, the majority of people want the Government to do more to protect their high streets. This is an opportunity for the government to really prove to people that they will do what it takes to make a difference to people’s communities and to their wellbeing.”
She added: “The proposed system would improve the financial situation of 99% of retailers. How much they are protected from tax rises depends on decisions made in this Budget. To boost local economies, create jobs and provide community cohesion, we need inclusive growth.”
“That means supporting the businesses on the corners, in the precincts, on the parades and the high streets of every community. In order for them to not only survive, but to thrive, the Government has to commit to the maximum levels of relief.”
Co-op has more than 2,300 food stores, 800 funeral homes and a wholesale business supplying around 6,000 additional outlets, employing 54,000 staff.
