Tuesday, 30 October 2018

Following the business rates announcement, Hayman's the butchers believes the high street and independent shops will have a chance to prosper again.

The family-run Hayman's the butcher's have been pointing out for some time how the current situation for independent retail businesses cannot go on:
Futures Forum: How to revive the health of Sidmouth's high street > all businesses invited to urgent meeting > 
Futures Forum: How to revive the health of high streets > "We could maybe look at ways we could help local shops, which use locally-sourced produce, through some kind a business rate relief."

The Mail covered the Chancellor's announcement to help these businesses:
£1.5billion package to help struggling high streets and shops in 2018 budget | Daily Mail Online

And which 'typical' independent retailer should it chose to highlight...

CASE STUDY: 'We could have a £3,000 drop in business rates,' says Butcher Stewart Hayman

Since Stewart Hayman took over the family business with his father Clive in 1980, he has tried to keep the butcher's shop relevant.

But despite his efforts to diversify by baking pies, curing meats and making ready meals, gradually rising business rates have threatened to push Hayman's Butchers off the high street.

Although they do not have to pay rent on the building in Sidmouth, Devon, because his grandfather bought it outright in 1907, his business rates are £12,000 a year.

Mr Hayman said: 'There's no doubt about it, business rates have continued to creep up. The trouble is you've got to cope.

Fare deal: Butcher Stewart Hayman, from Devon, is pictured with his award-winning pies on Church Street in Sidmouth

'In the last 12 to 14 months our trade has also dropped back at the same time. I had to lay-off a part- time lady earlier this year who had been working with us for 20 years. She was retiring age but you know, we had to make some savings somewhere.' But following the business rates announcement he believes the high street and independent shops will have a chance to prosper again.

He said: 'I'm very pleased with the budget. We could have a £3,000 drop in business rates.

'The thing is with business rates, it bears no relation to your gross margin or your net margin, so even if the business wasn't earning anything you're still asked to pay. It's hard.

'I really think this will take pressure off the high street again and the pressure of the supermarkets will ease a bit, too.'

Budget 2018: Hammond to pump billions into NHS, social care and defence | Daily Mail Online

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