There is no doubt just how challenging 2020 has been for small businesses. These small and medium sized enterprises (SMEs) are the backbone of Dartmouth, Kingsbridge, Salcombe and Totnes. When compared to the rest of the country our uniquely independent high streets are a key insight into the character, culture and history of each of our towns. They are not just faceless businesses, but family-owned and -managed stores that have succeeded for generations and whose future has been cast into doubt due to this year’s challenges.
Last week the country marked Small Business Saturday as an opportunity to boost the coffers of businesses impacted by the lockdown and to support those independent and locally run enterprises. In 2019 this event increased sales by estimated £800m through local shops and it is hoped that this year has overcome that record.
This campaign to support our small businesses was also a moment to reflect and thank those who have time and time again stepped up to help within their community. From the mighty village shops that checked up on their regular customers, to the publicans and restauranteurs who introduced takeaway menus and delivery services, to the shop owners who created Covid secure environments and kept the economy moving. It has been awe-inspiring to see how our local businesses have adapted to the circumstances they have faced and helped so many in the process.
However, the lifting of restrictions does not mean that the challenges faced by small business owners are lessened. The coming weeks and months are likely to be the most challenging of all. Budgets must be balanced and with future demand less than predictable the future looks bleak. But we can all play our part in ensuring that those well-known and -loved businesses and here today and there tomorrow.
This week Parliament debated the future of our high streets. Members from all parties recognise that we must do more to support those local businesses that make up our towns. Consider the fact if one day a year can boost sales by hundreds of millions, then imagine what could be achieved if a ‘buy-local’ mentality was sustained day-in, day-out all year round. Butchers, bakers and candlestick makers would not just be safeguarded, but would flourish, attracting new businesses offering more opportunities.
The support for businesses has been immense. It has had to be; from business grants of £10,000 to £25,000, business rate holidays, discretionary grants, a furlough scheme and bounce back loans all of which have been designed to keep afloat those businesses who have been so adversely impacted. But thoughts must now turn to what we can do to help them thrive in the coming years.
To do so, we must look at the broader picture. By improving infrastructure – both digital and transport – we can ensure that businesses can set up anywhere and benefit from a local, national and international client base. The £100bn in capital spending next year promises to see new investment in road, rail, cycle lanes and buses all of which will result in greater mobility and access to our towns and high streets.
Added to which, the Levelling Up Fund, worth £4bn, will see more money for museums, libraries, galleries and improved high streets and town centres. This fund is as much needed in the South West as it is anywhere else in the country, including in the North! It will ultimately help drive growth, raise living standards and create new opportunities.
Our high streets are precious. They should be protected, cultivated and nurtured so as to spur on growth and development. From supporting our local shops to ensuring the South West get its fair share from the available Government funds we can ensure that our towns remain the envy of the rest of the country.