Small business confidence rises to positive territory for first time since 2018 as non-essential retail reopens
Small business confidence has risen to its highest level since autumn 2014, a major study has revealed.
Payment holidays on credit cards, car finance, personal loans and pawned goods have been extended following the Government’s announcement of a second lockdown from Thursday 5 November.
The Government has announced that it has extended the ban on commercial evictions until the end of 2020, meaning businesses cannot be evicted by landlords for getting behind on rent payments.
According to the new figures, the number of empty high street shops has risen to the highest level for more than six years following a wave of store closures as a result of the pandemic.
The Chancellor, Rishi Sunak, is considering the introduction of a new sales tax for the online retail sector in a bid to help the struggling high street compete with the e-commerce sector.
A new package of support will help high street businesses “get back on their feet” following the coronavirus lockdown, the Government has said.
Businesses in the retail, hospitality and leisure sector are expected to save around £10 billion this tax year through business rates relief, official figures have revealed.
High street businesses have been given a new lifeline after the business rates Retail Discount extension was reintroduced to Parliament this week.
According to the latest data from the British Retail Consortium (BRC), there were around 85,000 job losses in the retail sector in the past year.
According to the latest industry research, around 16 shops are closing every single day on UK high streets as retailers look to restructure their businesses and adapt to increased levels of online shopping.