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High street 'death knell' – indie retailers, including cycle shops, shutting doors ahead of April tax rises

12 Mar 2025

Towns and cities across Britain are already seeing a wave of closures as independent businesses shut their doors ahead of April’s triple tax burden, including those in the cycling retail... Read more…

Research shows UK businesses hiring more as consumer confidence lifts

5 Mar 2025

New research has revealed a recent uptick in UK consumer confidence, leading to increased hiring by businesses, with the retail sector responding positively to signs of economic resilience.
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Independent cycle shop becomes first retailer to stock new local bike brand

28 Feb 2025

Independent cycling retailer and ACT member Velo Fit has become the first to stock a new brand of bikes focused on combining quality and affordability.
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Bira cautiously welcomes new crime and policing bill to tackle retail crime across high street businesses

26 Feb 2025

ACT parent company Bira has cautiously welcomed Labour's Crime and Policing Bill but is calling for urgent action and immediate funding to address the surge in retail crime affecting independent... Read more…

Bira warns of 'troubled times ahead' despite interest rate cut

7 Feb 2025

ACT parent company Bira has warned that retailers across Britain face troubled times ahead despite today's Bank of England interest rate cut to 4.5%, as the Bank halves its growth forecast for... Read more…

Free webinar exclusive to ACT members on employment law compliance

4 Feb 2025

The ACT and legal partner WorkNest are hosting an exclusive webinar on how to remain compliant with employment law while making necessary business changes.
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ACT parent company Bira urges Government action as December sales disappoint

23 Jan 2025

ACT parent company Bira is calling for urgent government intervention following disappointing December retail figures, which show sales volumes fell by 0.3% following a modest 0.1% rise in... Read more…

ACT announces new partnership with legal specialists WorkNest

17 Jan 2025

The ACT has teamed up with employment law, HR, and health and safety experts WorkNest as the association's new legal partner.
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Bira comments after BRC release Sensormatic IQ Footfall Monitor Report for December

9 Jan 2025

ACT parent company Bira has warned that disappointing footfall figures for December show mounting pressures on independent retailers, with concerning implications for 2025 as business costs... Read more…

2024 year in review: A message from ACT Director Jonathan Harrison

18 Dec 2024

Director of the ACT Jonathan Harrison has praised the "resilience and adaptability" of the ACT and its members in an end of year message.
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Research shows UK businesses hiring more as consumer confidence lifts

Posted on in Business News, Cycles News

New research has revealed a recent uptick in UK consumer confidence, leading to increased hiring by businesses, with the retail sector responding positively to signs of economic resilience.

Oxford Street Sun

The GfK consumer confidence index improved by two points from January to mid-February, moving from -22 to -20, as households expressed greater optimism about personal finances following recent interest rate cuts.

Despite this improvement, concerns remain over persistent high inflation and the continued impact of rising prices on household budgets.

Neil Bellamy, consumer insights director at GfK, said: “The majority are still struggling with a cost-of-living crisis that is far from over. Prices continue to rise above the Bank of England’s target, and energy bills remain a challenge for many.”

The Recruitment and Employment Confederation (REC) reported a 7.2% increase in job postings in January, the first rise since June, suggesting businesses are gaining confidence in the economic outlook. Retail job openings have also grown across all UK regions, with the East Midlands leading at an 11.7% increase.

REC deputy chief executive Kate Shoesmith said: “The increase in job postings is a clear sign that employers will hire when they need to. A 34.4% rise in new job postings signals a solid rebound in demand, showing that businesses remain resilient, despite both domestic and international headwinds.”

The report could provide positive impetus for the independent cycling retail sector, which has faced numerous economic challenges in recent months, including from the Budget announcement in October that ushered in increases in employer national insurance and a reduction in business rate relief, along with supply chain disruptions and changing consumer spending habits.

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