View from the High Street – how owners see their future

A poll of 300 high street independents reveals that almost half expect good times ahead. The survey by Liberis, which provides alternatives to business credit cards, has revealed 46% of SME owners with a physical location view their future on the high street as “booming”.

Health and beauty retailers were among the top three sectors that plan to add online shopping to their bricks and mortar stores, the other two being restaurants and fashion outlets.

However, this doesn’t mean trading on the high street isn’t without challenges. With corporate giants filling up empty slots and rents rapidly rising, independent high street businesses must impress their customers with personalised service and a unique offering to stay competitive.

The survey, showing how store owners funded their businesses and listing the perks of what they do, revealed that 46% of entrepreneurs foresee their future on the high street as “booming”, 34% expect it to stay the same and 14% see business declining.

Liberis sees more advantages to trading on the high street. From free advertising through word-of-mouth recommendations to collaborating with other independent businesses to increase footfall, it’s unsurprising 59% of SME owners are still selling in store after moving online, indicating a combination of offline and online is the best approach for guaranteeing success.

This infographic depicts the perks and pressures of trading on the high street, alongside the importance of combining offline and online selling.

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