Search

Brick Lane businesses struggling with high rents and rates

PUBLISHED: 18:07 19 June 2018 | UPDATED: 18:21 19 June 2018

Matthew Kim owner of Holy Shot coffee shop tells City Hall chiefs about the challenges small businessmen and women face. Pic: JON KING

Matthew Kim owner of Holy Shot coffee shop tells City Hall chiefs about the challenges small businessmen and women face. Pic: JON KING

Archant

“We’re killing ourselves to earn a living.”

The walkabout took in businesses around Brick Lane and Bethnall Green Road inclusing The Broken Palace. Pic: JON KINGThe walkabout took in businesses around Brick Lane and Bethnall Green Road inclusing The Broken Palace. Pic: JON KING

That was the message about the cost of doing trade that independent small business owners sent city hall chiefs visiting Brick Lane and Bethnal Green today (June 19).

Matthew Kim, owner of the Holy Shot coffee shop in Bethnal Green Road, said: “It’s unjustified how expensive rents are. It seems as if big companies come in and rents double.”

Steve Dobkin of Bacon Street Salvage meets the London Assembly members. Pic: JON KINGSteve Dobkin of Bacon Street Salvage meets the London Assembly members. Pic: JON KING

He called for more support for small business owners pointing out four neighbouring shops in the street lying empty after businesses folded.

Steve Dobkin of Bacon Street Salvage shocked the London Assembly members when he revealed his business’s rent had skyrocketed from £15,000 a year 20 years ago to £107,000 today.

Philip Pittack, the co-owner of textiles firm Crescent Trading, explains the impact of high rents and business rates. Pic: JON KINGPhilip Pittack, the co-owner of textiles firm Crescent Trading, explains the impact of high rents and business rates. Pic: JON KING

Philip Pittack of textiles firm Crescent Trading in Quaker Street said: “Nobody wants to help us because we’re too small. We are working twice as hard as we did two years ago just to stand still.

“We’re not destitute, but we’re killing ourselves to earn a living.”

Every trader called for a business rate reduction and support over rent to help them survive.

City hall’s economy committee chairman Susan Hall described it as a sad situation getting worse with rents continuing to rise.

Green AM Caroline Russell argued businesses needed protecting from developers who close roads and pavements during building work – hitting traders’ profits.

The hour-long walkabout was organised by small business group the East End Trades Guild which represents 90 shops, 32 eateries, eight markets and 93 services firms.

The Guild is also involved with campaign group Guardians of the Arches battling to stop the sale of Network Rail arches that are home to many small businesses.

It is calling for affordable work spaces and a London working rent along the lines of the London living rent which lowers the price of renting a home for some earners.

Director Krissie Nicholson said high rent was the most important issue facing 300 small business owners the Guild spoke to.

“It’s important we take action on this because small scale businesses are essential to the life of the community. It’s an urgent problem,” she said.

The city hall chiefs were surveying small business owners to find out how to support them.

Latest East London News Stories

08:18

Police are looking for the driver of a suspicious vehicle which sped away as they approached and was a then in a hit-and-run incident in Spitalfields yesterday.

Yesterday, 15:17

One thousand people left their offices following a basement blaze in Canary Wharf this afternoon.

Yesterday, 13:06

Campaigners have finally sunk plans for the controversial Enderby Wharf cruise-liner terminal going ahead which would have polluted a huge swathe of the Thames and the Isle of Dogs.

Yesterday, 11:00

An advice clinic set up as a temporary free service at Stratford following cuts to legal aid has won a funding contract for a permanent operation.

Tue, 18:00

Optician director Jayesh Maru has seen his way to the ancient mountain-top Inca capital of Machu Picchu and has found his way back to east London.

Tue, 13:36

Children have spent four years researching the life of a pupil at their school more than 100 years ago who was later awarded the Victoria Cross posthumously after being killed in the First World War.

Tue, 09:54

Small businesses occupying railway arches in east London facing crippling rent rises as much as 350 per cent have been promised a tenants’ charter to safeguard their trading.

Tue, 09:00

The indie/folk band Bon Iver will close the second All Points East festival with a headline gig in Victoria Park on Sunday June 2.

PROMOTED CONTENT

Are you a landlord looking for a fixed rental income, paid whether the property is empty or not? Steve Westley, general manager at estate agents Elliot Leigh, explains their Guaranteed Rent Scheme and how it takes the stress out of letting your property.

Newsletter Sign Up

East London Advertiser twice-weekly newsletter
Sign up to receive our regular email newsletter

Our Privacy Policy

Most read news

Show Job Lists

Digital Edition

cover

Enjoy the
Docklands and East London Advertiser
e-edition today

Subscribe

Education and Training

cover

Read the
Education and Training
e-edition today

Read Now