Research by the Federation of Small Businesses has found that every time you spend £1 at a local independent retailer, more than half – 50 to 70p – recirculates back into the local economy. But when you spend a pound online, only 5p trickles back. Presumably the big supermarkets are somewhere in between – what they pay staff often stays local even if the profits don’t.
We still have some great independent shops in Palmers Green – cafes and restaurants, card shops, hardware retailers, picture framers, fashion and electronics, and several grocers. But as the old cliche goes, use it or lose it. Further north, parts of Enfield’s central shopping area are showing serious signs of distress; meanwhile, Winchmore Hill Broadway lost its only bank a few months ago.
What are we going to do about it? Shouldnt we be making sure that it doesn’t happen here? Run by the National Skills Academy for Retail, today is Independents’ Day. The aim is to encourage everyone to buy at least one item from a local independent retailer and celebrate diversity on the high street.
There are few a few shopping hours left today, and a lot of our shops, cafes and restaurants are open late. Why not give it a go?