Retailers and shops are facing a quadruple tax bill for next year.

This comes as a blow to those still recovering from the lockdown especially if they took out bounce-back loans to maintain the business through a temporary period. 

A rise of almost 2 billion is expected for this industry from April 2024. 

Currently, the average is £3,600 however with this new bill this would look like £15,300. 

For a restaurant, this on average will be from £5,000 to £21,600. 

Any person can see this is a considerable jump. The question is where and how can that difference be made up. 

The instant solution appears to be:

• Increase current prices to be passed on to customers 
• Increasing opening hours
• Changing suppliers
• Reducing overheads 
• Increase marketing 
• Introducing new promotions/ deals/ packages 

A business overview shows that it will have a knock-on effect on every aspect of the business in order to stay open. 

The good news is that if a store joins a CSR Connector campaign such as the following: 

• Million Items Donated in the City quest 
• Million Meals Donated in the City quest 
• Million Products Donated in the City quest 

Each participating company will receive the following:

• Looprun In Store donation box or sticker or both 
• Listed as a location and free advertising 
• Increased engagement in members/ customers/ staff and the public
• Fulfill and enhance CSR (Corporate Social Responsibility)
• Impact the local community 
• Create business and local sustainability 
• Entered into the City League Table for free
• Receive a 5 star CSR rating certificate 
• Monthly KPI report

To find out more please get in touch with Looprun Back to Us