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Tens of thousands of small UK shops and 150,000 jobs could be lost without urgent business rates reform, according to a report.
The Co-operative Group Ltd said its research suggests 10% of small high street business owners fear they will need to lay off staff, and one in eight believe they will be at risk of closure.
Shirine Khoury-Haq, Co-op chief executive, said: ‘As we approach a critical autumn budget, there’s a real danger that the voices of small shops and the communities they serve are not being heard.
‘Local shops aren’t just businesses; they’re part of the social fabric of Britain. For some, a visit to a local store is one of the few chances they have to chat to someone and feel connected.’
The report is based on a survey of 300 small businesses owners.
Four in five respondents said business rates reform is essential for survival.
source: PA
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