Totally Stockport warns high street on brink as government yet to #RaiseTheBar

UK High Streets are on the brink of collapse as the eight-week countdown to the next quarterly rent instalment begins, according to the #RaiseTheBar campaign being backed by Totally Stockport.

Figures released by #RaiseTheBar show 54,638 businesses including many in Stockport from pubs to shops, restaurants, cafes, bars, hotels, galleries and gyms are currently unable to access the £25,000 RHLG grant due to their business rates valuation falling between £51,000 – £150,000.

Despite a £617m discretionary fund announced by Government on 2nd May, industry bodies, associations and business owners in the retail, leisure and hospitality sectors across the UK believe these measures go far enough to preserve the UK’s high streets.

The #RaiseTheBar campaign estimates a maximum of £1.365bn in Government support is needed to enable the RHLG grant to support all 54,638 businesses falling within a business rates threshold of £51,000 to £150,000.

Since launching in late April, the #RaiseTheBar campaign has gathered the support of BIDs across the UK and has secured cross-party support including from cabinet ministers and opposition leaders. The campaign ask is expected to be raised in Parliament by Shadow Business Secretary, Ed Miliband MP.

Totally Stockport’s BID Manager Paul Taylor stressed the importance of the campaign:

The additional £614 million pounds of support is welcome and addressees some existing gaps, however (though details remain unclear) it is likely to fall short of what we are asking for by raising the bar. Critical funds must get into the hands of business owners fast (as we are making up for lost time), so this means the government needs to remove as much ‘discretion’ and administration as possible, as was done with the retail and leisure grant (which ‘raise the bar’ is proposing to extend).”

The #RaiseTheBar campaign believes access to the £25,000 is the difference between survival and bankruptcy for businesses on High Streets across England and Wales, which have welcomed an outpouring of support from the public during lockdown choosing to support their local communities.

The grant will enable businesses to mitigate significant stock losses and cashflow challenges, including rent, that wage subsidies do not address. Many businesses are not in a position to take on further debt or have serious misgivings about being able to survive the recovery and service loans. Other cash pressures include suppliers, service charges and the cost of re-opening to repurchase stock and ongoing running costs.

To get behind the campaign and help ensure the shops, bars, restaurants and places you love will be waiting when we can enjoy them again safely, please sign the petition to press government to #RaiseTheBar to support the retail, hospitality and leisure sectors.