The high street has been at the epicentre of the retail industry’s focus for some time now, with several industry figures presenting reports to the government outlining potential “rescue” plans which would see consumers return to town centres rather than primarily spending on the internet. However, with the latest figures still showing that there is a long way to go before the high street can claim to be fully recovered, a charity has launched a new initiative designed to aid young entrepreneurs open their own retail businesses in the myriad of empty units around the country.
Manchester is one of the locations participating in the charity-run TestTown initiative
Over the summer, the scheme known as TestTown will give thousands of 16-30 year old entrepreneurs the opportunity to pilot their own business idea by utilising empty commercial properties in a manner harking back to the hugely popular pop up shop trend. Organised by the Carnegie UK Trust, participating towns and cities such as Manchester, Kirkintilloch, Rhyl, Coleraine, Perth, Middlesbrough and Bury St Edmunds will become pivotal start-up hubs for young people with big ideas, and their retail scenes will hopefully be rejuvenated as a result.
Spokesman for the Carnegie UK Trust, Jim Metcalfe, believes that involving young people is the key to unlocking the modern potential held by every high street in the country.
He says; “The time has come to offer young people the opportunity to bring a new perspective to our high streets.
“In the age of online shopping and social media, town centres need to adapt to woo local people back into them.”
Technology does certainly seem to be at the root of the problems faced by the high street, whether in the form of competition brought by online e-tailers or in the lack of opportunity the majority of small high street shops feel they have to incorporate modern advancements into their operations.
Previous pilot schemes allowing for a greater use of technology on the high street, such as PayPal’s contactless payment initiative run in London last year, have certainly proved popular with consumers – indicating that more would be inclined to visit their local town centre should it become more “up to date”.
One of the greatest advantages of the Carnegie UK Trust’s initiative is that it tackles two key issues in the British economy at once. As well as seeking ways in which to rejuvenate local retail districts and therefore boost local economies, the idea of encouraging a higher involvement in high street retailing amongst the 16-30 year olds of the country directly tackles the mounting problem of youth unemployment.
In the last quarter of 2013, ONS statistics showed that a total of 917,000 16-24 year olds were neither in education or employment, which roughly equates to 19.9 per cent of all young people. Yet with the scheme offering not only experience but also a £10,000 investment into the business deemed to be the best nationwide, plus a £500 start-up fund for each regional winner, it could go a long way in helping a number of gifted young entrepreneurs achieve their goals.
