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The introduction of the Levelling-up and Regeneration Act represents a significant legislative shift with direct implications for property ownership and management on our nation’s high streets and town centres. This Act has been crafted with the intention of countering the trend of retail vacancies and decline in foot traffic, which have increasingly affected the vibrancy and economic health of these urban areas.

Central to the Act is a series of measures that empower local authorities to take decisive action to stimulate regeneration and reoccupation. For landlords, this signifies a new landscape of responsibilities and opportunities. The Act aims to transform high streets and town centres into bustling hubs of commerce and community engagement through strategic interventions. These include the designation of key areas for economic development, the facilitation of property occupation, and the fostering of an environment conducive to both business growth and community cohesion.

The role of the property owner is pivotal in this transformation. Understanding the Act’s nuances will be instrumental in navigating the future of property management and contributing to the collective prosperity of our high streets.

Further details below.  Contact partners@savethehighstreet.org for more information on how the Act, the Vacancy Partnership and new solutions for landlords. 

Background of the Act

The enactment of the Levelling-up and Regeneration Act is a response to the social and economic challenges facing our high streets and town centres. In recent years, we have witnessed a marked increase in vacant properties and a downturn in local commerce, a trend accelerated by the rise of online shopping and changes in consumer behaviour. These shifts have not only diminished the economic vitality of these areas but have also eroded their social fabric.

The traditional role of high streets as bustling centres of trade and community life has been under threat, leading to an urgent need for revitalisation. Economic stagnation in these areas has had a ripple effect, impacting local employment, reducing business rates revenue, and leading to a decline in property values. Socially, the diminishing attractiveness of high streets has weakened community ties and led to underutilised public spaces.

This legislative approach seeks to reverse these trends by empowering local authorities with tools to actively promote and manage the redevelopment of high streets. For landlords, the Act opens up new engagement with local councils and the community, presenting both challenges to adapt to regulatory changes and opportunities to capitalise on potential growth.

Key Provisions of the Act

The Levelling-up and Regeneration Act is a comprehensive piece of legislation designed to address the current challenges facing our high streets and town centres. To summarise, the Act enables local authorities to:

• Designate certain streets and areas as essential for economic and community development, prioritising them for strategic intervention and support.
• Establish the ‘vacancy condition’ for properties, allowing intervention when premises remain unoccupied for a specified duration, thus combating long-term vacancy.
• Facilitate the reoccupation of properties by implementing a structured letting process, including rental auctions to match vacant properties with viable businesses.

For landlords, the implications of this Act are significant and multifaceted. Key provisions that directly affect you include:

• Requirement for Landlord Consent: You are required to seek consent from local authorities before entering into new tenancy agreements once a property has been identified under the vacancy condition.
• Participation in Rental Auctions: Should your property meet the vacancy condition, you may be called upon to participate in rental auctions organised by the local authority, which could influence the selection of tenants and rental terms.
• Compliance with Designation Criteria: If your property falls within a designated high street or town centre, there will be specific criteria for the types of businesses that can occupy the space, focusing on those that enhance the area’s vibrancy and economic activity.
• Appeal Process: The Act provides a clear appeal process should you contest a designation or decision made under its authority, ensuring your rights are protected.

Understanding these components is crucial as you navigate the new regulatory landscape. The Act’s provisions present both the necessity to align with community and economic objectives and the opportunity to benefit from the revitalisation initiatives that these changes are expected to bring.

New Responsibilities for Landlords

With the enactment of the Levelling-up and Regeneration Act, the role high street and town centre landlords is subject to new responsibilities. The Act imposes a duty to work with local authorities to address the issue of vacant premises, a critical factor in the economic and social health of these areas.

Key responsibilities:

• Compliance with Vacancy Condition: If a property is deemed unoccupied under the Act’s ‘vacancy condition,’ the owner is obliged to collaborate with local authorities to find suitable tenants within set timeframes.
• Engagement in Rental Auctions: In certain cases, the owner may be required to participate in rental auctions organised by the local authority, aimed at finding tenants who will contribute positively to the high street’s economic revival.
• Consent for Letting: During the notice period specified by the Act, you must obtain consent from the local authority before entering into new tenancy agreements, ensuring the property’s use aligns with the strategic goals of the Act.
• Adherence to High-Street Use: You must ensure that any new tenancy aligns with the designated high-street use, a measure to maintain the commercial diversity and vibrancy of the area.

Importance of Compliance:

Compliance is not just a legal obligation; it’s a commitment to the collective effort to rejuvenate shared commercial spaces. Adhering to the Act’s requirements signifies dedication to fostering a thriving, economically robust high street.

Consequences of Non-Compliance:

Failure to comply with these stipulations can lead to significant consequences. These may include void tenancy agreements, penalties, and potential legal action. Non-compliance can also hinder the progress of broader revitalisation efforts, impacting the collective value and reputation of the high street.

As we navigate these changes, it is imperative to understand the weight of these new responsibilities and the critical nature of compliance. Working in tandem with local authorities and adhering to the Act’s provisions will not only contribute to the revitalisation of our high streets but also safeguard and potentially enhance the value of investments in high street property.

Opportunities Presented by the Act

The Levelling-up and Regeneration Act, while introducing new responsibilities, also opens up benefits and opportunities for property owners. The Act’s focus on reviving high streets and town centres can significantly enhance the commercial viability and attractiveness of these areas, directly impacting value and profitability of property assets.

Potential Benefits and Opportunities:

• Increased Property Values: The Act’s initiatives aimed at reducing vacancies and enhancing area appeal can lead to an appreciation in property values, augmenting your real estate portfolio’s worth.
• Attracting Quality Tenants: The structured letting process, including rental auctions, increases the likelihood of attracting stable, quality tenants committed to long-term success in the community.
• Enhanced Rental Income: With the revitalisation of high streets, demand for prime locations can increase, potentially leading to higher rental income and more favourable lease terms.
• Investment Incentives: Local authorities may offer grants or incentives for property improvements, facilitating upgrades at reduced costs and improving the desirability of your premises.

Proactive Engagement for Advantageous Outcomes:

Proactive engagement with the Act’s processes is key to realising these benefits. By collaborating closely with local authorities, you can influence decisions that directly affect your properties. Participating in community planning and development discussions can provide insights into future trends, allowing you to position your properties strategically.

Moreover, embracing the vision of revitalised high streets and actively contributing to their transformation can bolster your reputation as a forward-thinking, community-oriented property owner. This reputation can translate into tangible economic advantages as tenants and consumers alike are drawn to businesses that demonstrate a commitment to community and economic development.

In summary, the Levelling-up and Regeneration Act presents an opportunity to not only contribute positively to the community but also to strengthen the financial robustness of your property investments. 

Challenges and Concerns

The Act, while presenting a progressive framework for urban redevelopment, introduces challenges for landlords. Foremost among these is the adaptation to the stringent regulations surrounding the letting process, which may require a change in management strategies to remain compliant.

A significant concern is the restriction on entering new tenancy agreements during notice periods without local authority consent, which may affect timely leasing of vacant properties. This limitation, aimed at ensuring tenancies contribute to the high street’s economic resurgence, could potentially delay income generation from your assets.

The implementation of the vacancy condition also introduces the challenge of increased scrutiny over property occupation. Landlords must be vigilant in monitoring and reporting occupancy status to avoid penalties for non-compliance, adding to the administrative burden.

Moreover, the Act’s emphasis on designated high-street uses restricts the type of tenants you can engage, which might limit the scope of potential leasing opportunities. This could be particularly challenging if the current market trends or your property portfolio do not align with these designated uses.

From the landlord community, there are concerns regarding the potential for increased operational costs, especially if properties require significant investment to meet the high-street use criteria or to attract tenants through rental auctions.

To mitigate these challenges, it is advisable to establish a proactive and collaborative relationship with local authorities. Engaging in open dialogue can provide clarity on the Act’s requirements and foster a partnership approach to high street revitalisation. Staying informed about any available support, such as grants for property improvements, can also alleviate financial pressures.

Understanding and anticipating these challenges will be critical in adjusting to the new landscape shaped by the Act. By doing so, you can position yourself not only to meet your legal obligations but to take advantage of the opportunities for growth and enhancement of your property assets.

Strategies for Landlords

Aligning with the objectives of the Levelling-up and Regeneration Act is imperative for landlords. Here are strategic approaches you can adopt to ensure compliance while enhancing the value of your properties:

Strategic Alignment with High-Street Uses:

Review your property portfolio and consider adjustments to align with the Act’s focus on high-street uses. Proactively repositioning your properties to attract retail, dining, and service-oriented businesses can increase their desirability and value.

Embrace Collaborative Partnerships:

Forge partnerships with local businesses, community groups, and local authorities. Such collaborations can lead to shared visions and initiatives that not only comply with the Act but also add vibrancy and value to your properties.

Invest in Property Upgrades:

Consider investing in improvements that make your properties more attractive to potential tenants and customers. Upgrades that enhance curb appeal, energy efficiency, and functionality can justify higher rents and attract long-term, high-quality tenants.

Utilise Available Incentives:

Stay informed about any financial incentives or support programs offered by local authorities for property development and use these to offset the costs of aligning with the Act’s objectives.

Active Participation in Local Development Plans:

Get involved in local urban planning processes to understand future development plans. This insight can inform strategic decisions about property development and positioning in the market.

Adopt a Proactive Marketing Approach:

Market your properties effectively, highlighting their alignment with the Act’s objectives and their contribution to the high street’s revival. A strong marketing strategy can place your properties at the forefront of desirable locations for businesses.

By adopting these strategies, you can leverage the Act not as a regulatory hurdle, but as an opportunity to enhance the value and profitability of your properties. The Act’s objectives can serve as a roadmap for strategic investment and development, positioning your properties as key players in the economic and social revitalisation of our urban centres.

Case Studies and Examples

The following hypothetical scenarios illustrate the impact of the Levelling-up and Regeneration Act on landlords:

Scenario One: Enhanced Tenancy Quality

Imagine you own a series of retail spaces on a once-thriving high street that’s experienced an increase in vacancies. Under the Act, your local authority initiates a rental auction to fill these vacancies with quality tenants. As a result, a mix of boutique shops, cafes, and a community art space win the auction. These new businesses attract foot traffic, revitalise the street, and in turn, increase the desirability of your properties. Compliance with the Act leads to enhanced tenancy quality and potentially higher rents due to the increased demand for space in a rejuvenated area.

Scenario Two: Diversification of Property Use

You are the landlord of a large, vacant property that previously housed a department store. The local council, using powers granted by the Act, designates your property as part of a high street regeneration project. With guidance and possible financial incentives from the council, you invest in remodelling the space into a multi-use complex including retail units, co-working spaces, and leisure facilities. This diversification aligns with the Act’s objectives, attracts a broad customer base, and increases your property’s value.

Scenario Three: Collaborative Development

In another scenario, you collaborate with local authorities to convert a group of underutilised properties into a residential and retail hub, in line with the Act’s vision. This partnership results in a mixed-use development that meets community needs and aligns with the high street’s character, significantly raising your property’s long-term revenue potential.

Each of these scenarios underscores the Act’s transformative potential when landlords engage proactively with its provisions. By embracing the opportunities presented, you can contribute to and benefit from the sustainable revitalisation of our high streets.

Conclusion

The Levelling-up and Regeneration Act ushers in a new era of responsibility and opportunity for property owners. Key takeaways include the necessity to adapt to enhanced regulatory frameworks, particularly regarding property vacancy and the alignment of tenancy with the Act’s objectives. The Act stipulates landlord engagement in rental auctions and imposes a structured process for tenancy agreements, underscoring the need for active participation in the revitalisation process.

For landlords, compliance is not merely a legal requisite but a chance to capitalise on the economic uplift of regenerated areas. By embracing the Act’s vision, you can elevate the commercial viability of your properties, enhance their value, and contribute to the sustainability of high streets.

Looking ahead, the Act enhances the potential to redefine our high streets and town centres. It promises a collaborative journey towards rejuvenation, with landlords playing a critical role. By aligning with the Act’s provisions, you can be at the forefront of shaping vibrant, economically robust, and community-focused urban landscapes. The future of our high streets and town centres is poised for transformation, and as landlords, you hold a pivotal role in steering this positive change.

Contact partners@savethehighstreet.org for more information on how the Act, the Vacancy Partnership and new solutions for landlords. 

The post Decoding the Levelling-Up and Regeneration Act 2023: A Landlord’s Guide first appeared on Savethehighstreet.org.

Refill business reaches its crowdfunding goal to invest in zero waste shopping

Update: The team at All is Good Yorkshire are pleased to announce they reached their crowdfunding target of £18,000 in a little over a month. They made the announcement on their Facebook page and Instagram account yesterday: “There are literally no words that can express our feelings right now. Thank you just doesn’t seem enough. By uniting together and recognising our vision for the future, you have helped us, a small team of dedicated people, to get one step nearer to our dreams of being the best we can be, Honestly, truly humbled and utterly blown away. YOU ARE THE BEST!!!”

Shop owners Karen Close and Leanne Gill were overwhelmed by the positive responses to keep going with comments such as “we trust you with our money,” “we want you to grow,” and “we believe in what you are doing,” they have decided to increase their crowdfunding target to £25,000 to conduct further refurbishments, possibly adding home delivery to their expanding services. We wish them the best of luck reaching the new target!

14 June, 2023 – Our friends at All is Good in Penistone have launched an exciting, new crowdfunding campaign in an effort to expand the refill station located in its community store, making it more accessible, user-friendly, and cost-effective.

With the support of customers and local eco-conscious individuals, All is Good hopes to achieve a target of £18,000, enabling them to offer a wider range of sustainable products and create a more inclusive shopping experience.

Green ‘dragons’ – or eco-investors – from across the community are being asked to support the development by ‘pledging’ an investment of any amount to help the business reach its target. This will allow the shop to buy 18 giant 200-litre barrels of household and cleaning products; extend its rack of zero-waste dispensers for dried food; and expand its range of reduced-waste frozen food,

Investors will then get all their money back, in terms of value of goods in-store with an extra 10 percent on top for all pledges above £20, and rewards such as coffee, cake and exclusive offers thrown in too.

Karen Close, who set up ‘All is Good Yorkshire’ with business partner Leanne Gill in October 2021, said: “Sales have grown and grown in our refill section, and we’ve wanted to invest in making it bigger and better for a while now but have been stuck because of the cost of the initial outlay.

All is Good’s decision to turn to crowdfuding aligns with its commitment to sustainable business practice.

Karen Close, who set up ‘All is Good Yorkshire’ with business partner Leanne Gill in October 2021, said: “Sales have grown and grown in our refill section, and we’ve wanted to invest in making it bigger and better for a while now but have been stuck because of the cost of the initial outlay.

“This is fabulous way to help our us cover our costs upfront and we will be very grateful for any support that existing and potential customers would like to give us.

“We love that we’ll then be able to pay everyone back, in full, through products and rewards. It will be our way of saying thank you for believing in, and supporting, our green business. It’s a win-win for everyone and we are very excited about this development.”

Karen turned to crowdfunding after talking to Save The High Street, whose Community Director Julie Holden is currently working with Barnsley Council to form a new Traders’ Group in Penistone, which aims to improve local collaboration and encourage new high street initiatives. Julie introduced her to OurPledge, a sustainable business consultancy which supports green start-ups and SMEs across the UK.

CEO of OurPledge Rachael Castell said: “Businesses like All is Good which champion zero waste shopping are the vanguard of the retail sector’s future. They’re pioneering more sustainable models of delivery and packaging; and exploring alternatives to the supermarket norm.

“Anyone who pledges to support All is Good’s crowdfunder will see very good returns on their investment for themselves, in terms of receiving a higher value of product on account, and also for the planet in terms of helping along a sustainable business in their own community.”

OurPledge has worked in partnership with crowdfunding platform Crowd0 to set up the All is Good Bigger and Better campaign which launched on June 13th and runs for six weeks.

The crowdfunder will enable the shop to purchase 18 200-litre barrels of product such as shampoo and conditioner, washing-up liquid and floor cleaner, from its supplier Fill/Refill Co. These better-value barrels will replace smaller ones, cut the number of deliveries needed and enable the business to cut its carbon footprint, keep prices down and create a more clutter-free environment with improved access for wheelchairs and pushchairs. More user-friendly pumps on the larger barrels will also make them ‘self-service’ so that customers, and young families in particular, can refill their own bottles.

No money will be taken from investors until the £18,000 target is reached, and the development gets the go-ahead. All pledges will be redeemable in full against future purchases across the store, with extra rewards.

All is Good sells locally-sourced food, arts, crafts and gifts; ethical brands and environmentally-friendly goods, as well as refill and zero waste goods.

Its refill area has grown from a four-metre square corner of the shop to a 40m square room of its own in just 18 months.

Karen said: “Since opening, we’ve increased the number of refill products we stock from five to 20, doubled the number of zero waste dry goods we sell and added refillable wine, gin and rapeseed oil to our range.

“Our customers have really embraced this new way of shopping which shuns single-use plastic packaging and helps reduce so much of the waste prevalent in conventional shopping. We look forward to investing in growth.”

See the All is Good crowdfunder here or visit www.crowd0.xyz.

All is Good is based at Penistone 1, St. Mary’s Street, Penistone, Sheffield,S36 6DT. Visit www.allisgood.co.uk and find them on Facebook and Instagram.

Get in touch with SaveTheHighStreet if you’re interested in exploring a partnership or setting up a local traders group by emailing partners@savethehighstreet.org or fill out the form below:

If you enjoyed this blog article, you may also want to read “how local trade associations benefit UK communities”, by clicking here.

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SaveTheHighStreet.org is on a mission to revitalise and strengthen every local high street, town centre and place where businesses launch and grow. 

We focus on ending the vacancy crisis, empowering local champions, understanding what works in this market and helping local entrepreneurs succeed, from startups to scale-ups. In 2022, we joined forces with a range of partners across the industry to repopulate and transform vacant spaces on high streets and in shopping centres, anywhere in the U.K. 

Next month, we’ll be sharing insights, learnings and predictions for the future high street with our partners Completely Retail.

‘What it takes to be successful on the high street’

Join us from 2-3 pm on 2nd March 2023 to hear about the range of innovative new solutions that address different vacancy-related challenges in the UK. We’ll be taking a look at the latest trends around pop-up high street incubators, multi-tenant trader hubs, re-imagining ex-department stores, commercialising public space and the many programmes across the UK allowing makers, crafters, e-commerce start-ups and independents to launch on the high street.

Book your spot here:

SaveTheHighStreet.org is here to help you open your first or your next premises. From securing the right location to designing and fitting your space, setting up systems, attracting customers and launching in style.

What to expect?

We’re currently supporting the next generation of local high street entrepreneurs with unique access to space, support and solutions. We can help you develop a launch plan with our expert team and then work together to make it a reality.  You’ll get our latest version of JO by SaveTheHighStreet.org to help every step of the way.

If you want to get in touch to learn more about how we are revitalising local high streets everywhere, email us at hello@savethehighstreet.org or fill out the form below and we’ll get back to you.

Stay updated on our many campaigns and programmes by following us on social media:

• Linkedin
• Instagram
• Facebook
• Twitter

The post Would you like a space on the local high street? first appeared on Savethehighstreet.org.

Calling all small businesses and community champions in the London Borough of Ealing! 

Ealing Council has partnered with SaveTheHighStreet.org and a range of other small business champions to deliver a series of support centres, each popping-up in a different town centre across the borough. 

Click on the following links to find out more about each upcoming pop-up and the support on offer. 

Acton – ActOne Cinema (7th April)
Hanwell – Fade to Black (14th April)
Greenford – Greenford Community Centre (21st April)
Ealing – Hilton Doubletree Hotel (28th April)
Northolt – Grand Union Village Community Centre (12th May)

You can register for as many pop-ups as you’d like by clicking here, completely free of charge. 

We look forward to meeting you soon!

The post Ealing business support pop-up roadshow: come join us! first appeared on Savethehighstreet.org.

This is the last chance for independent high street business to submit to our Britain’s Best Shop Window competition.

Submissions close at 11pm on Friday the 30th of November.

You can enter now by clicking here

Entries so far have been fantastic and we can’t wait to see the final shortlist! 

Have you, or a local business you love designed a special Christmas themed window?

We would love to see it

Need some inspiration for your shop window?

Check out our first shortlist here

How to get involved with the voting

Voting will begin on our Instagram from the 5th of December.

Each shortlisted entry will be uploaded to our Instagram and the shop window’s with the most photo likes and comments will win the most popular vote.

Our expert judges will also pick their favourite submissions, irrespective of how many votes the submission has.

Thanks to everyone who has gotten involved so far! 

Do you know a business that should enter, but might be a little shy?

Share this article with them or tag them on social media.

The post Last chance to enter #BestShopWindowUK first appeared on Savethehighstreet.org.

At the end of October we closed submissions into the first shortlist of Britain’s Best Shop Window. Submissions into the second shortlist are now open.

For more information & how to enter, please click here

If your entry was unsuccessful for the first shortlist, you can still enter if you have changed your shop window since the first submission. We understand that window displays change due to the seasons and we want to encourage as many independent high street businesses to get involved as possible.

We want independent high street businesses to succeed, so we are going to promote the honorable mentions that didn’t quite make the shortlist through our Instagram over the next month.

Need inspiration for your shop window?

Check out October’s shortlist below…

Walter & May (York)

The Old Haberdashery (Ticehurst)

The Langport Stores (Langport)

Tessie’s (Hull)

Scape Interiors West (Bournemouth)

Retrouve (London)

Red House (Bedale)

Pippin (Edinburgh)

Our Handmade Collective (Leeds)

Nourish at No 44 (Belper)

Little Paperie (Ashbourne)

Lift (Southwold)

Kindle House (Ystradgynlais)

In House Chocolates by Design (Castle Douglas)

Hop Hideout (Sheffield)

Footes (London)

Fab Frocks Boutique (Bournemouth)

Cats Protection (Bristol)

Born Store (Eastbourne)

Belle La Vie (Belper)

The post Updates from #BestShopWindowUK first appeared on Savethehighstreet.org.

At the end of October we closed submissions into the first shortlist of Britain’s Best Shop Window. The results are now in!

The high standard of entries from all over the country was fascinating and overwhelming. The judges had a tough time selecting their favourites but we think they did an impressive job.

Thank you to everyone who has entered or shared the competition, you are amazing!

Without further adieu, the first shortlist nominees are….

In House Chocolates by Design, Castle Douglas

Kindle House, Ystradgynlais

Tessie’s, Hull

The Langport Stores, Langport

Nourish at No 44, Belper

Our Handmade Collective, Leeds

Cats Protection, Bristol

Little Paperie, Ashbourne

Footes, London

Hop Hideout, Sheffield

The Old Haberdashery, Ticehurst

Belle La Vie, Belper

Born Store, Eastbourne

Pippin, Edinburgh

Scape Interiors West Ltd, Bournemouth

Red House, Bedale

Walter & May, York

Retrouve, London

Fab Frocks Boutique, Bournemouth

Lift, Southwold

—-

Submissions into the second shortlist are now open.

For more information, please click here

If your entry was unsuccessful for the first shortlist, you can still enter if you have changed your shop window since the first submission. We understand that window displays change due to the seasons and we want to encourage as many independent high street businesses to get involved as possible.

We want independent high street businesses to succeed, so we are going to promote the honorable mentions that didn’t quite make the shortlist through our Instagram over the next month.

The post First Shortlist Announced first appeared on Savethehighstreet.org.

A government plan for the high street
31st October 2018, David Whiteley

In the House of Commons, at 3:30pm on Monday 29th October, Chancellor Philip Hammond stood up at the despatch box to give the budget statement.

I don’t feel quite so old

This is the first Monday budget in my lifetime – the last one was Monday 9th April 1962.

In 1962 the share of consumer spending online was around 0% (I’ve not checked that fact, but I’m fairly confident).

Supermarkets were the disruptive retail business model; out-of-town superstores were yet to appear; and the brand new technology sweeping through Britain’s households was the domestic fridge.

The Chancellor is facing quite different challenges today.

Is the government taking the high street seriously?

Here’s a quick rundown of some points relevant to the high street community …

1. The government has a plan for the high street, “Our Plan for the High Street”.

You can read it here

It’s encouraging that the Treasury is promoting a government plan for the high street. This must be good news for key ministries like MHCLG.

2. Business rates are cut by a third for most properties on rateable value below £51,000 for two years from April 2019.

The Chancellor announced this should mean a saving of around £8,000 p.a. on average for those benefiting. (The Treasury has budgeted £900 million.)

Whilst this benefits independent local businesses including shops, restaurants, pubs and hairdressers, the Treasury seems to have an issue with some services businesses like estate agents and professional services firms who could be excluded.

3. The government is to establish a Future High Streets Fund to support transformation of high streets over the next few years.

The fund will invest in town centre infrastructure to increase access to high streets, reduce congestion, support redevelopment and enable housing and new workspaces to be created. (The Treasury has budgeted £675 million.)

The fund is intended to help high streets “keep up with changing consumer behaviour so that they can remain at the heart of local communities”. It will “invest in town centre infrastructure, including to increase access to high streets and support redevelopment and densification around high streets … restoring historic high streets to boost retail and bring properties back into use as homes, offices and cultural venues”.

4. There’s to be a new High Street Taskforce

It will “provide hands-on support to local areas [local leadership] to develop innovative strategies to help high streets evolve, connect local areas to relevant experts and share best practice [to adapt and thrive]”. (I’ve seen reports of a budget of £2 million.)

Sounds great. I’ve said it before and I’ll say it again, you can’t have enough high street taskforces.

5. Government is consulting on planning measures to support high streets to evolve

It will consult on issues such as empty shops and a change of use regime that will “make it easier to establish new mixed‑use business models on the high street”.

I think this means a greater mix of residential, office/workspace and commercial property on the high street.

6. A digital services tax is to be introduced from April 2020

A 2% tax is proposed on UK revenues of “certain digital businesses”, including “search engines, social media platforms and online marketplaces”. The tax will apply only to larger businesses – those with at least £500 million in global revenues and £25 million on UK revenues from these types of business model. (The Treasury is budgeting receipts growing from £275 million in 2020-21 to £440 million in 2023-24).

So that’s Google, Facebook and Amazon then.

The economic context – so what?

OBR is projecting over the next five years (2019 to 2023) for the UK …

• GDP growth of 1.4% to 1.6%
• GDP per capita growth of 0.9% to 1.1%
• Inflation (consumer prices) of 2.0% to 2.1%
• Real household disposable income growth of 0.6% to 1.6%
• Unemployment rate of 3.7% to 4.0%

My reading of this is consumer spending is projected to grow (the reference to “real” disposable income), markets are growing faster outside the UK (projected to underperform global growth significantly), and recruitment is likely to remain challenging (as unemployment is low).

Which could mean … keep giving excellent service to local customers, start targeting overseas markets if appropriate for your business, and invest in technology to improve productivity and attract new recruits.

In summary, some positive news for high streets and independent local businesses

With the introduction of Our Plan for the High Street, the Future High Streets Fund and the 2-year cut in business rates for smaller businesses, the government is starting to show some concerted action around the high street.

The policy changes laid out in Budget 2018 point to an acceptance of the challenges facing high streets at the heart of every community and local economy, and enabling the transition to a better connected, digitally enabled, more sustainable high street of the future.

What are your thoughts on the budget? You can share your feedback with us here

David Whiteley is a seasoned business leader with a 25 year track-record spanning roles as COO, CEO, head of operations and senior consultant for a range of startups, consultancies and publicly listed companies including Virgin.com.

The post A government plan for the high street first appeared on Savethehighstreet.org.

HM Treasury

Our Plan for the High Street: Budget 2018

• High streets are a crucial part of our communities and local economies. We recognise that changing consumer behaviour presents a significant challenge for retailers in our town centres and we are taking action to help the high street and town centres evolve.The Budget announces Our Plan for the High Street. The government will cut business rates by a third for up to 90% of retail properties for two years, to provide upfront support for high streets.

• To support the transformation of the high street, the government will create a £675 million Future High Streets Fund to help local areas make their high streets and town centres fit for the future.

• The government will consult on planning reform to make it simpler to create more homes, jobs and choice in town centres, and will trial a register of empty shops.

• A High Streets Task Force will support local leadership with expert advice on helping local high streets to adapt and thrive.

• And the government will strengthen community assets, including the restoration of the historic buildings that make our high streets special, support community groups to use empty properties and providing business rates relief for public toilets and local newspapers. Business rates discount

1. From April 2019 small retailers will benefit from a business rates discount, cutting their bills by a third for two years. The discount will be available to occupied retail properties with a rateable value below £51,000. Up to 90% of all retail properties will benefit, subject to State aid limits.

2. This represents a maximum saving of around £8,000 per property per year. A retailer with an annual bill of £16,203 in 2019-20 (based on a rateable value of £33,000) will save £5,401 a year. In total the relief is worth almost £900 million to retailers.

3. The relief will be available to a range of retail properties including, but not limited to, shops, restaurants, pubs, and hairdressers.

4. To ensure that the maximum possible support can be provided to those retailers that most need it, certain services – such as professional services and estate agents – will not be eligible.The government will publish guidance by the end of the year.

Future High Streets Fund

5. While the business rates discount will provide upfront support to the high street, the government is taking long-term action to help high streets and town centres evolve and keep up with changing consumer behaviour so that they can remain at the heart of local communities. To support that transformation, the government will establish a Future High Streets Fund.

6. The £675 million fund will invest in improvements to town centre infrastructure, including to increase access to high streets, reduce congestion, support redevelopment around high streets and enable housing and new workspaces to be created. The Ministry of Housing, Communities and Local Government (MHCLG) will publish further details on how the fund will work. Reforming planning

7. The government will consult on modernising planning rules to ensure that they support the transformation of the high street.

The government will publish two consultations on:

• This includes consulting on supporting the conversion of commercial properties into offices or homes and the implementation of new mixed-use business models that could form the vibrant high street of the future

• The government will also consult on how to support local areas to use other planning tools more effectively

8. In addition to these consultations, the government will trial a register of empty commercial properties to help prospective retailers to find empty properties and help local stakeholders tackle fragmented ownership on their high street.

High Streets Taskforce

9. The Future High Streets Fund will support the establishment of a new High Streets taskforce. This will provide hands-on support to local areas to develop innovative strategies to help high streets evolve, connect local areas to relevant experts and share best practice.

Strengthening community assets

10. The fund will also support the regeneration of heritage high streets, helping Historic England restore the historic buildings that make our high streets special and destinations that people want to visit. It will also support community groups looking for affordable space by trialling a service to match them with empty properties.

11. The government is taking further action to strengthen vital community assets, including:

• a 100% business rates relief for public lavatories, taking up to 3,500 facilities, many of which are run by town and parish councils, out of business rates entirely

• continuing the £1,500 business rates discount on office space used by local newspapers in 2019-20 to support a strong and vibrant local press Implementing Our Plan for the High Street

12. MHCLG will publish implementation guidance on the retail discount for local authorities in due course. Existing published guidance on the local newspaper discounts will continue to apply.

13. The government will introduce primary legislation to implement the public lavatories relief in due course.

14. Local authorities will be fully compensated for loss of income as a result of business rates measures.

15. The measures are available in England. Funding will be provided to the Devolved Administrations in the usual way to ensure they can introduce similar discounts if they wish.

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The post Budget 2018: Our Plan for the High Street first appeared on Savethehighstreet.org.