Local Pubs Facing Extinction Within the Next Decade, as Revealed by Startling Research
In a chilling revelation from recent Black Friday research, it has been predicted that a staggering number of local businesses, including pubs and bars, could vanish within the next decade. The research, conducted by small business insurance provider Simply Business, highlights the alarming rate at which independent high street businesses are declining. With a focus on small businesses on UK high streets, the study forecasts that 132,945 businesses could become extinct within 15 years if the current trend continues.
According to the research, electrical appliance shops are at the top of the list of endangered businesses, with a projected extinction date as early as 2029. The inability of these shops to compete with online retailers’ substantial discounts, especially during events like Black Friday, is a major contributing factor to their decline. Shoe shops, homeware stores, pubs, bars, and newsagents are also among the businesses facing imminent extinction, with projected closure dates ranging from 2034 to 2039.
To shed light on the plight of UK pubs and bars, Simply Business has collaborated with The Pelton Arms in Greenwich to introduce a poignant ‘Bleak Friday’ campaign. Renamed ‘The Extinction Arms’ for the campaign, the pub serves as a symbolic representation of what the high street could look like without these vital establishments. The impact of governmental decisions, such as the Autumn Budget announcement reducing business rates relief, is keenly felt by small businesses like The Pelton Arms.
Geoff Keen, Landlord of The Pelton Arms, expressed the shared concerns of small business owners, stating, “It’s bittersweet to be taking part in Simply Business’ ‘Bleak Friday’ campaign as it brings to light the very real fears that keep all small and independent business owners up at night.” The pressing need to support local businesses like pubs and bars is emphasised, as they are integral to the fabric of communities across the country.
The ‘Bleak Friday’ campaign, launched on Black Friday, calls on shoppers to rally behind small and independent businesses during this crucial retail period. By amplifying the voices of small business owners and engaging shoppers in discussions on saving independent retailers on the high street, Simply Business aims to generate support for these essential establishments. Additionally, the company plans to provide financial assistance to one high street business facing increased business rates next year.
Bea Montoya, UK Chief Operating Officer at Simply Business, voiced the urgent need to address the challenges faced by independent businesses, stating, “Britain’s independent high street is at breaking point. Our research paints a bleak picture – if we don’t act urgently, our high streets will soon look vastly different.” With calls for government intervention and supportive measures such as infrastructure investment and business rate reductions, the campaign seeks to preserve the unique character and economic contributions of small businesses.
As small businesses grapple with mounting pressures and a changing retail landscape, the ‘Bleak Friday’ campaign serves as a rallying cry for community support and governmental action. By raising awareness of the impending extinction of local pubs and other high street businesses, Simply Business aims to initiate a long-term strategy to safeguard the vibrancy and vitality of the UK’s high streets. Amidst the threat of widespread closures, united efforts are needed to ensure the survival of these cherished establishments that form the heart of our communities.