…for Small Business, at least.
As we say goodbye to some of the biggest names in the retail scene, it must seem scarier than ever to be a local business owner. But hold strong, this is a tremendous opportunity to grow our small businesses, for those brave enough to take advantage.
Topshop and Debenhams, as massive retail chains, have unimaginably large overheads when compared to your typical local business. They operate massive chains of command, huge administration departments and pay enormous property and maintenance fees… Factoring that in, we can see how losing even just a small percentage of profit can potentially have catastrophic effects on how the company can run.
In small business every percent matters, but for example, making 10% less gross profit for the next few months is far less likely to put you out of business. You might have to turn off the heating for a while, but you’ll still be putting on your shirt in the morning.
Multiko holds firmly that the closing of these bigger outlets will come as a boon to our smaller, local businesses because as soon as the stock-dump sales are over, there will be far less competition and more room for growth.
We’re very curious at Multiko to see how this plays out. Our hope is that all those who’ve lost their jobs are able to find spots in small businesses where they can help our communities grow and use their experience to the benefit of their local communities.
If you’re thinking about making the decision to grow your small business, you’ll need to get in touch with a smart marketing company, a recruitment company and potentially even a training company. Luckily, Multiko has all three of these and more!