- Huw Hughes
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Online marketplace Trouva has announced a new partnership with real
estate advisors Harper Dennis Hobbs (HDH) to help its community of 500 high
street stores tackle the pressure of business rates.
The partnership will see Trouva’s network of boutiques receive access to HDH’s
bespoke business rates investigation and appeal services, as well as
hands-on lease advisory services to assist with rent reviews, lease
renewals and negotiations. The partnership will also enable Trouva’s retailers to
take advantage of HDH’s advice in sourcing and acquiring new stores.
The news comes following the introduction of the government’s Future High Street Fund that opened on Boxing
Day 2018 – a fund which saw 675 million pounds in funding from Chancellor
of the Exchequer Philip Hammond’s budget dedicated to breathing much-needed
life into the UK’s high streets.
Trouva said that, while the Future High Street Fund is a step in the
right direction, more needs to be done to support small high street
businesses through the provision of practical help on property and
retail-related issues. Trouva hopes that its new partnership will do just
that.
“There has never been more uncertainty around the future of our high
streets, and at Trouva we’ve long been campaigning for a reduction in
business rates so that independent shops don’t continually get punished by
this archaic tax,” co-founder and CEO at Trouva, Mandeep Singh, said in a
statement.
“Last April saw business rates rise yet again, meaning 1 million small
businesses saw an unaffordable 3 percent increase in their rates. Although
independents are starting to get help of sorts from the government via the
Future High Street Fund, as a global platform for independent shopping, we
see it as our responsibility to also make a practical difference to our
community of boutiques which makes HDH a natural choice for our next
strategic partnership.
“Independent stores don’t typically have the resources or budget to
access tailored services from these real-estate experts, so by offering
this service by a trusted partner and in a convenient and cost-efficient
manner, we hope our community will benefit greatly.”
Photo credit: Trouva
