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Business rates holiday could lead to surge in start-ups

Monday, June 15th, 2020

The economic downturn could be the opportunity that kitchen table entrepreneurs in North Derbyshire have been waiting for to expand onto the high street.

Research has shown that small businesses selling affordable luxury items, like chocolate, organic food and ice cream, tend to prosper in a recession. This is due to fact that people feel deprived during times of hardship so will splash out on small, affordable luxuries.

Added to this, the government has also introduced a business rates holiday for retail, hospitality and leisure businesses.

Restaurants, cafés, bars, pub and leisure properties like sports clubs, gyms and spa in England with a rateable value of less than £51,000, will not have to pay business rates for the 2020 to 2021 tax year.

For many entrepreneurs who have been considering moving their business idea onto the high street, this could be the opportunity they have been waiting for.

Having a Chesterfield town centre presence has many advantages, including:

  • Increased visibility to potential customers
  • Good access to public transport.
  • Close to facilities such as a post office, banks and print shops.

The iconic Elder Way building offers businesses a central location in Chesterfield. The former Co-op department store has been sympathetically developed into eight fully accessible, modern street level units.

With glazed frontages and external seating, which lends itself perfectly to accommodate social distancing measures, available units range in size from 1,420 sq ft to 4,219 sq ft. Each unit can be bespoke and fitted out to a business’ individual requirements.

Non-essential retailers in Chesterfield town centre re-opened their doors on Monday 15 June and hospitality businesses are expected to follow in July, all with social distancing measures in place.

To ensure the ongoing safety of retailers, market traders and visitors, Chesterfield Borough Council has made a number of physical changes to the town centre.

There is now visible signage around the town centre advising shoppers where to queue outside individual shops. There are also signs in areas such as car parks and green spaces reminding people to follow social distancing guidelines keeping two metres apart from anyone outside of their household, and not to congregate in groups.

Retailers have also introduced a range of measures, including the installation of hand sanitiser stations, appointment-only store visits and reduced opening hours.

Throughout lockdown, town centre retailers have also benefitted from the Shop Local message and Destination Chesterfield’s Supporting Local campaign, encouraging people to support local independent businesses. Laura-Jo Owen, owner of Adorn Jewellers in Chesterfield believes it’s made a difference, She said: “I think lockdown has helped people realise the shops and stores they have on their doorstep so I am expecting new customers who discovered us on social media over the last 12 weeks, to also visit the shop.”

If you’re looking for a town centre location for your start-up, get in touch with our team now to discover what Elder Way can offer you.

For more details about the units and leisure space at Elder Way, please contact Jomast Developments on 01642 666942.

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