Attire Accessories - Mar/Apr 2019 (Issue 75)

FSB BUSINESS FEATURE 99 businesses rate their cars as crucial for business, FSB has been calling for increased funding for local roads, as well as more free town centre parking to improve congestion hot spots. Therefore, we were pleased to hear the government would allocate £420 million to local authorities in 2018/19 to tackle potholes and repair damaged roads. Parking remains a huge issue for local small businesses, and while high parking charges and fines raise thousands of pounds for local councils, it puts small town centre retailers in jeopardy. FSB will continue to work with authorities, both at local and national level, to come up with strategies that work for everyone. BRICKS VS. CLICKS Despite the pressures hanging over small firms, we know these businesses are resilient. Small firms are not tied in with layers of bureaucracy, which means they can react quickly to consumer demand and often offer more interesting and bespoke products to shoppers. While big retail giants might struggle to keep up, small shops can be nimble. Some forecasts are predicting a rise in independents in the coming years, despite the apparent doom and gloom. Latest figures from the Local Data Company show growth in some areas. Small firms are often savvy about offering customers the best service in store. The prevalence of online review sites, including Trust Pilot and Trip Advisor, means that customer experience is king. It means that high street businesses can offer an unequivocal face-to-face customer experience, which online cannot. While FSB offers bricks businesses advice in expanding, members also receive help on moving into clicks. A high street and online presence are not mutually exclusive, and many businesses use both a shopfront and website. But our research has shown that a quarter of business owners in England lack confidence in their basic digital skills, and more than a fifth believe a lack of basic digital skills among their staff is holding them back from increasing their digital and online presences. We know that embracing digital technology can help businesses in every sector to be more productive. Firms risk being left behind unless they have the skills to take advantage of technology to remain competitive and responsive to their customers. If we can harness the digital potential of small firms, we stand a real chance of creating more world-beating businesses and boosting growth. REIMAGINING HIGH STREETS Aside from policy changes that could make a difference to a small business’ bank balances, we must start reimagining our town centres and thinking about them differently. With huge competition from large online brands and a shift in consumer habits, the way we shop has changed, while high streets have largely remained the same. While we’re not certain what high streets of the future might look like, a healthy high street should be diverse and not just focused on shopping. There should be a mix of not only restaurants, cafés and pubs but also services like hairdressers, gyms, shared workspaces for the self-employed, with cultural venues and community-based amenities. Also announced at the Budget was the Future High Streets Fund, which gives an opportunity for councils to think carefully about ways to improve their town centres and bid for funding to put those plans in place. Talking to their local independent businesses is a great place to start for local authorities. At the heart of their communities, these small firms will allow them to harness some innovative ideas that will improve the public realm and create vibrant hubs in their city, town and village centres. If burdens can be reduced and opportunities provided, then small businesses can help give our high streets a new and exciting future. It will take central government, councils, community groups, businesses and consumers to come up with real solutions. Small business owners and the self-employed tend to be some of the most innovative people in society, and while the challenges in this new era do present difficulties, it is up to us all as the small business community, supported by organisations like FSB, to work together to find new ways to navigate and to help the high street thrive. ABOUT FEDERATION OF SMALL BUSINESSES As the UK’s business support group, FSB is the voice of the UK’s small businesses and the self-employed. Established more than 40 years ago to help its members succeed in business, FSB is a non-profit making and non-party political organisation that’s led by its members for its members. As the UK’s leading business campaigner, FSB is focused on delivering change that supports smaller businesses to grow and succeed. FSB offers members a wide range of vital business services, including access to finance, business banking, legal advice and support along with a powerful voice in the government. Each year, FSB also runs the UK’s Celebrating Small Business Awards. More information is available at fsb.org.uk. You can follow us on twitter @fsb_policy and on Instagram @fsb_uk.