Health clubs, vape shops and jewellers are fast replacing banks and clothing stores on the UK high street.
According to research by the Local Data Company, leisure outlets are surpassing the traditional stores as retailers struggle under the strain of rising costs and a reduction in consumer spending, leaving them focussing more on online sales.
The research also found that whilst 4,534 stores opened on the UK high streets in 2016, a total of 5,430 closed, resulting in a net loss of 896.
At Beavis Morgan, we understand the pressures placed on business owners. We work with SMEs across a range of sectors, putting processes in place to make it easier to run your business and to maintain effective management of your company’s working capital. We also assist with management accounts, enabling better control of your financial situation and awareness of the business in real time, enhancing planning for the peaks and troughs.
We are on hand to assist you to remain profitable and increase your net worth.
If you are concerned about your finances, our experts at our partner business BM Advisory are available to assist. Whatever your situation, the sooner you contact us the more extensive your options will be. Your initial consultation is free of charge, and you can rest assured that it will be in total confidence.
Further reading: Many retailers could become insolvent this year