Video
Brick Lane businesses struggling with high rents and rates
Matthew Kim owner of Holy Shot coffee shop tells City Hall chiefs about the challenges small businessmen and women face. Pic: JON KING - Credit: 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 KING - Credit: Archant
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 KING - Credit: Archant
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.
Matthew Kim owner of Holy Shot coffee shop tells City Hall chiefs about the challenges small businessmen and women face. Pic: JON KING - Credit: Archant
You may also want to watch:
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.”
Most Read
- 1 Politicians join forces on referendum about Tower Hamlets mayor
- 2 Mayor or leader: Your choice on May 6
- 3 Covid patients in intensive care down to single figures at hospital trust
- 4 Fast broadband deal is signed for thousands of East End homes
- 5 Covid-19 mass testing after variant detected in E1 postal area
- 6 Teenager arrested after 13-year-old stabbed in Isle of Dogs
- 7 Voting in the Isle of Dogs Neighbourhood Planning Referendum
- 8 'I'm backing leader and cabinet model in Tower Hamlets referendum'
- 9 Hundreds of boilers break down in the East End during pandemic
- 10 Ramadan explained: Everything you need to know about the Islamic holy month
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.
