Many people in Britain lives in market towns and large villages. These communities contain restaurants, shops, and businesses. However, these market towns are suffering. One of the main reasons is because of the credit crisis. Store chains like Woolworths are collapsing. There is a lack of general investment and the regulations are tightening. Many shops in these market towns are vacant. Here are the main reasons why these market towns are suffering.
- There is a steep unemployment compared to the national average recently. The middle-class professionals are the one who has suffered the most. Many shops are vacant now and there is no real investment. So, the number of businesses has declined. This is resulting in job loss.
- There is no agreed Government way to separate market towns from other urban places. There is no specific research on the market towns. So, the needs of the market towns are being overlooked. There is also a cut in the local government budgets. So, market towns don’t have a local center manager and so there is no one to coordinate any proper strategy for the development of the town markets.
- The market towns are now experiencing a challenging landscape. There is a growth of edge of town hypermarkets. The rate of internet shopping is also increasing. This is hurting businesses in the town markets.
- Many landlords are not present. The commercial properties of the market towns are owned by remote landlords. These landlords have no interest in the market towns’ vitality.
Immediate steps must be taken to improve the conditions of the town markets. The Government should provide funds to support local businesses. People in the community and outside must invest in local businesses to improve the living condition of the town markets.