Perth retail closures second highest in Scotland
A report from Price Waterhouse Coopers has highlighted that twelve retailers in Perth have closed their doors permanently between January and July this year, with only eight new businesses opening up in their place. The bi-annual survey looks into the ever-changing picture of the UK high street.
The survey does not take into account a number of recent high profile shop closures in the Fair City.
Perth had the second highest closure rate of any city or town in Scotland at 7.2%. However the city fared better than average when it came to attracting new businesses, with an opening rate of 4.8%.
In percentage terms there were more shop closures in Scotland than the rest of the UK.
Murdo Fraser MSP said:
“The combination of high business rates, the SNP’s large business supplement and competition from out-of-town retail parks is putting serious pressure on high street businesses which is resulting in so many exiting our town centres.
“This has impacted Perth more than most places and it is high time that the Council started supporting existing retailers whilst encouraging more people to take a risk and start their own business.
“Currently, the burden of expensive rents, rates and burdensome regulation is acting as a major detractor for those looking to start a small business. The Scottish Government needs to encourage growth and until it does so reports like this from PwC will only continue to get worse.”
Commenting Liz Smith MSP said:
“This bi-annual survey from PwC highlights the continuing vulnerability of retailers across the UK, but especially in Perth where the closure rate is the second highest in Scotland.
“High business rates coupled with poor parking provision has seriously impacted the profitability of town centre retailers.
“Although the report only includes data for Perth city, this pattern of shop closures is true of high streets across the region. The Scottish Government must do more to reduce the rates burden whilst also helping businesses diversify and identify new revenue streams-including click and collect and e-commerce.
“Data in the report also highlighted the significant number of bank branch closures, which is incredibly worrying. The decline of traditional banking is not to be welcomed with many constituents still valuing face-to-face banking.
“Encouraging entrepreneurs to set up shop is important and for that to happen we will need to see greater incentivisation in order to make the price of failure less costly.”