Shropshire traders want help with business rates to protect against strengthening economic headwinds

National figures out today show that the number of empty shops has continued to fall but remains higher than pre-pandemic levels amid fears that falling consumer confidence will test the fragile recovery.

Adele Nightingale, the manager of Oswestry Business Improvement District, says teamwork between businesses, councils and the BID means the town is better placed than it would have been years ago as they face looming issues of rising prices and energy costs.

"The National Federation of BIDs, the FSB and other business organisations will be calling on the Chancellor and the Prime Minister to look at the issue of business rates," she said. "We know that the rateable system is under review and we hope they will do something to help."

She added that Oswestry has just completed its shop vacancy survey but the data hasn't come in yet.

"We believe our vacancy rate is below the national average," she said.

"The property market in the town is still buoyant and there are offers and discussions going on."

But she added that it is a difficult time for businesses but a "bit early" to say what the impact will be. She says that stories in the media of 'doom and gloom' do not help, and are often cited by businesses as having an impact.

The overall vacancy rate across Britain fell to 13.9 per cent in the third quarter, 0.1 percentage points better than the previous quarter and 0.6 percentage points better than the same period last year, the British Retail Consortium (BRC) and Local Data Company (LDC) reported.

It is the fourth consecutive quarter of falling vacancy rates.

Shopping centre vacancies fell to 18.8 per cent, down from 18.9 per cent in the second quarter, while high street vacancies decreased to 13.9 per cent from 14 per cent.

The highest rates included those for the West Midlands, which had a regional overall vacancy rate of 15.8 per cent, being 15.4 per cent in high streets, 20.5 per cent in shopping centres and 9.9 in retail parks.

BRC chief executive Helen Dickinson said: "The costs of operating in many towns and cities remains high and demand will be tested by the fragile economy and falling consumer confidence in the lead up to Christmas.

"Higher costs are already pushing up prices and the industry faces a Government-imposed extra £800 million business rates bill from April 2023. This will force many retailers to make tough decisions about whether to invest in new stores or close existing ones.

"Government should freeze business rates and reform the broken transitional relief system. This will support investment in communities across the country and help keep prices low for consumers."

Lucy Stainton, commercial director at the Local Data Company, said: "Independent businesses in particular have continued to flourish as consumers remain loyal to their local high streets.

"However, we can't ignore oncoming economic pressures as consumers face a winter of increased caution and reduced disposable income. Just as the market has started to find its feet, we are now about to face a new round of tests - but perhaps the lessons learned during the pandemic will help chains and independents to weather the coming storm.

"The latest Great Britain figures are encouraging but should still be viewed with real caution, and we would predict that this increase in occupancy could slow as retail and hospitality businesses grapple with a tough winter."

Ms Nightingale said one of the Oswestry BID's roles is to encourage people to visit the town by hosting events, cleaning the streets and helping provide a great place to visit.

"Oswestry doesn't have a lot of high street brands," she said. "We have a lot of independents, great hospitality businesses and it is a great base for exploring the area."