Retail Entrepreneurs Get Boost

Last week the retail arm of StartUp Britain launched its flagship pop-up shop on London’s King’s Road; and following the launch, London’s deputy Mayor Kit Malthouse has said that it will help to launch the careers of hundreds of online British retail entrepreneurs.

According to StartUp Britain, record numbers of people are starting businesses in the UK at the moment; with 60 per cent of being started at home, although the entrepreneurs have said that they would like access to high street so that they can meet their customers and engage in face-to-face sales, as well as getting feedback.

The shop in the King’s Road is designed to give start-ups the opportunity of testing their products in an area that has launched what have now become iconic brands.

The pop-up shop will offer short-term opportunities for start-ups and micro businesses to share the space over the coming year as part of a pioneering initiative aimed at matching online retail start-ups with empty high street shop spaces.

The first businesses in the shop are all run by new entrepreneurs, with each one taking over a percentage of the cost of the running of the shop, for a two week period, at which point the shop will be handed over to the next crop of businesses waiting to get their chance to test out the market and work on a rotational basis.

The scheme was piloted last year in Richmond, Surrey and was a resounding success and has become a model for regenerating the high street that benefits landlords, retailers and customers alike.

Entrepreneurs wanting to take part can apply to PopUp Britain via their website. They just need to confirm that they have physical products to sell with enough stock to last two weeks and do not already have a physical site.

London accountant, Russell Black specialises in offering accountancy, audit and taxation advice to business start-ups.

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