New entrepreneurs thrive as independent high street shops boom
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COULD the high street finally be fighting back?
Despite continual chainstore closures, independent bookshops, clothing stalls and markets are among the UK’s quickest-growing business sectors.
A study reveals start-ups specialising in fresh produce, retail and entertainment have grown at the fastest rate over the last five years.
Glasgow is home to the most clothing and market-based microbusinesses, with start-up numbers rocketing by 662 per cent.
London leads the way in bookshops, with a 217 per cent growth, while Leeds has seen 88 new bakeries open up.
Birmingham is booming with new fashion firms, recording a 638 per cent jump, while Cardiff is in the picture with a 419 per cent growth in photography businesses.
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On the south coast, Portsmouth reports a 114 per cent increase in new sports clubs, while Southampton tops the league for new sports shops.
Mike Elliff, CEO of Tyl by NatWest, which conducted the study, said: “Entrepreneurs have had to weather an unprecedented global pandemic, a shifting political landscape and a rapidly transforming hybrid world.
“Statistics show that the UK is a thriving hub for new entrepreneurs who are the epitome of resilience.”
'You need to be a risk taker'
KELI KING set up The Little Green Pantry in Wellington, Shropshire, while on maternity leave from her job at a national waste management company.
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Her store provides “zero waste shopping” including refills and products in loose, recyclable or reusable packaging.
Keli, 38, said: “Running a business can be the best job in the world.
“If you have an idea you are passionate about or which solves a problem for other people then go for it.
“To be successful in business you need to be a risk taker, embrace change and be willing to put in the hours of work.
“I love seeing my ideas come to life, watching customers’ reactions and hearing their feedback on my business and products.”
Top tips
- Get to know customers better: Tightly tailor your product and service offerings to fit the wants and needs of your customers.
- Make the most of new tech: AI tools such as chatbots and predictive analytics can help you make informed business decisions and grow your customer base.
- Embed your business in the community: Many firms are fighting climate change and helping social mobility. Go further and show how you are improving life for the local community.
- Diversify your payment methods: Be flexible in how you allow customers to pay. Tap to pay, buy now pay later and QR codes offer more choice.
Keeping private life safe
SHOULD your private life impact how you are viewed at work?
Employee relations expert Jim Moore from HR consultants Hamilton Nash, shares his view.
He says: “It’s important to remember that our behaviour outside work can still have severe consequences.”
1. Most workers have a clause in their job contract for disciplinary issues and gross misconduct which covers a wide range of issues.
Claiming that bad behaviour is a private matter won’t hold much ground, especially if the actions could reflect badly on the employer.
2. Sexual misconduct outside work often causes reputational damage for employers.
The behaviour doesn’t have to be illegal for it to cause problems.
You could be dismissed if your activities are inconsistent with your role.
3. What pushes behaviour away from the office over the line to result in disciplinary action?
It depends on whether the behaviour has affected the reputation of the business, such as causing complaints from customers, clients or other members of staff.
4. Employers should ensure they have clear policies governing how workers can use the internet, social media and other communication methods.
Employees, meanwhile, should think carefully before making disparaging comments online about their work relations.
5. Behaviour that involves the police and courts is likely to trigger a disciplinary process, even if those actions are unconnected to work.
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Busy doing nothing
INSTEAD of working to hit company goals, nearly four out of ten UK employees spend much of their day finding ways to look busy, according to new research.
A study by messaging app Slack shows that 38 per cent of desk workers claim their biggest barrier to productivity is staying motivated.
British workers are a sixth less productive than their opposite numbers in the US, France and Germany.
Slack’s head of customer success, Chris Mills, said: “UK productivity has long been a challenge.
“With artificial intelligence and automation, organisations can start streamlining the mundane tasks that drain days of value.”
Job spot
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Share workload
GENDER-equality campaigners Empower has called on the Government to make it easier for firms to offer job-sharing contracts.
This came after it was revealed 101,000 UK employees had job-sharing contracts in 2022.
One firm stepping up is Marks & Spencer, which has launched a Job Share Finder app.
M&S also has two senior women, Emily King and Naomi Hartley, splitting the management of the Birmingham Bullring store.
Emily, 39, said: “My manager asked, ‘Why are you holding yourself back just because you now want to work part-time?’ I realised I could still progress.”
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Naomi, also 39, added: “It feels great to know that M&S is supporting us to do this.”
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