American Express has revealed the UK’s top 10 hotspots for independent shopping and vibrant small businesses, finding that a new generation of business owners are still investing in the country’s high streets.
The bank holding company has partnered with retail experts GlobalData to identify the top high streets for independent shops, ranking these locations based on number of small business outlets, variety and vibrancy of the streets.
The list also considered the number of independent business owners who are generation Z or millennials (aged between 18 and 43) in each location, to decipher where in the country younger generations are investing.
Across the top 10, around one-third (36 per cent) of all business owners fall into these age brackets.
The street that came out on top as the best hotspot for independent shops is St Mary’s Street in Stamford, Lincolnshire.
This street is filled with independent shops and small businesses, such as independent jeweller and gift shop Murano Silver, with people like 30-year-old Molly Clegg as part of their team, reflecting the new era of gen Z and millennial entrepreneurs who are investing in the future success of UK high streets.
Bethany Scott-Morris, 34, from Iris & Violet on St Mary’s Street, is also another example of the younger generation revitalising the high street.
Scott-Morris’ independent boutique is one of two locations in the country, selling a curated range of womenswear clothing, homewares, stationery, gifts and accessories.
Also on the historic market town’s high street is Rafferty’s of Stamford, a traditional barber that tailors their services to individual customers, run by Lee Barrett, one of the many small business owners in the area.
Amex’s study found that Devonshire Street / Division Street in Sheffield, Yorkshire took second place on the list of the best hotspots for independent shops, while the quirky and graffiti-filled Gloucester Road in Bristol was in third.
The second Yorkshire location on the list…
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