“Everyone’s clinging on for dear life”: Stoke Newington’s independent businesses call for support from John Healey ahead of Autumn Budget

John Healey’s reported budget plans on Tuesday for a tax crackdown on online marketplaces to fund business rate cuts for high street shops arrive at a critical time for Stoke Newington’s independent traders.

The neighbourhood has long prided itself on its small independent businesses. However, significant changes to business rates introduced by the Government last April, alongside the recent opening of chains such as Gail’s, are now threatening the character of the high street with many businesses in the last year closing their doors.

Holly Wilson, 47, owner of Prep cookware shop, which has been operating on Stoke Newington Church Street for 12 years, said her business rates have almost doubled since the changes last April.

“Everyone’s clinging on for dear life. A lot of businesses have closed this year already on this street, because they just can’t afford it anymore. The new proposal from Healey is a positive one but the Government has a long way to go towards delivering meaningful reform for small businesses.”

Leyla Aslan, 56, owner of Camia Delicatessen cafe, said the opening of Gail’s across the street from her business has had a significant impact on the cafe’s sales.

“The challenges are endless unfortunately, the chains moving onto the street, the business rate increase, inflation, the cost of living.”

Locals are also concerned about the changes occurring on the high street. Resident Sasha Lysens, 52, said the arrival of chains is “not the vibe of Stoke Newington”.

“The local people want to have independent businesses and keep it different, rather than there being chains, but it seems like that’s what Stoke Newington is moving towards.”

Andrew Goodacre, CEO of British Independent Retailers, has criticised the Government’s latest proposals on Tuesday to reform business rates, urging the chancellor to “resist pressure to water down the proposals” and to “take the time to really understand how it works in small retail”.

Publication : Hackney Gazette