27 Jul GRG responds to closures and welcomes new investment
The Guernsey Retail Group was saddened to hear that two town retailers have decided to close.
We have reached out to the Writer’s Block and Tokkuri Sake Bar and Shop and hope to meet with the owners of both so that we can understand their situation better and help them where we are able to.
We acknowledge that the owner of the Writer’s Block has directly cited the challenging environment that retailers face, rising costs, and the potential introduction of GST for the decision to close.
The GRG understands the difficulties some retailers are facing, and we know many are concerned about the potential introduction of GST. We’d like to encourage more retailers to fill in our Q2 Retail Industry Survey so we can build an accurate picture of the challenges, opportunities and outlook across Guernsey’s retail sector.
We also reiterate the statement we issued recently on the topic of tax reform.
GRG Director Malcolm Woodhams said: “Guernsey needs to strengthen and grow its economy, support local enterprise, and encourage retention of more spending on island. The retail sector plays a substantial role in the economy, and the GRG believes that supporting local businesses should be viewed by the States as an investment in Guernsey’s wider economic resilience and future prosperity.
“We have consistently been calling for practical measures, including incentives for business investment, improvements to town centres, productivity initiatives, and policies that help local businesses remain competitive. If Guernsey wants stronger public finances in the future, it must also focus on strengthening the economy that supports them.”
While the closure of any shop is regretful, we are also keen to stress recent positives from the retail sector, with two new shops opening in St Peter Port this month.
We welcome Pragnell jewllers to Smith Street, and Totes & Notes to the High Street.
Our new Retail Liaison Officer has visited both retailers to offer our support as they launch in Guernsey.
Laura Clayton said: “I am visiting retailers this summer to introduce myself. Where retailers have concerns and challenges, I am ready to help, but there are also positive stories to share from across the retail industry.
“If retailers are able to complete our Q2 Retail Industry Survey this will help the GRG build an accurate picture of the opportunities, challenges, and outlook across Guernsey’s retail sector. We will be collating these views and sharing them with States members ahead of their debate resuming at the end of September.
“The more businesses that participate, the stronger and more representative our collective voice becomes.”