THE business and trade secretary, Jonathan Reynolds, said the new Labour government was committed to empowering small businesses, as he praised the independent retail sector as a “vital lifeline” to communities.
Addressing the annual Asian Trader Awards last Tuesday (5), Reynolds also sought to reassure the retailers in the audience that last month’s budget did not mean the new government had abandoned the high street.
Jonathan Reynolds
Asian Trader is a sister title of Eastern Eye and Garavi Gujarat news weeklies, and is published by the Asian Media Group (AMG). The Asian Trader Awards recognise the best of the independent retail sector in Britain.
Reynolds told the gala event in London last week, “When I became the secretary of state, I committed that we would have the voice of small business hardwired into everything we did, and this government has set itself a clear growth mission.”
He acknowledged the economic pressures many in the industry are currently facing, especially after the recent budget announcement, which included an increase in National Insurance contributions.
“There’s no getting around the fact that employee National Insurance contributions did go up in the budget,” he said.
However, Reynolds said Labour’s aim was to not only support, but also to work directly with retailers, implementing changes such as the new fair payment code to tackle the scourge of late payments to small businesses, along with start-up loans and growth guarantee schemes.
The Labour government was “determined to ensure policymaking is done with you, not to you, so we can go for growth again … a government that’s on your side and giving you the tools and resources you need,” Reynolds said.
Shefali Solanki-NairThe awards night, now in its 35th year, is the biggest event in the independent retail calendar. It was attended by notable political figures, including small business minister Gareth Thomas and MPs Barry Gardiner, Edward Thomas, Kanishka Narayan, Sureena Brackenridge, Shivani Raja, and Shokat Adam, alongside leading industry figures and many retailers.
The evening also highlighted pressing concerns of the industry.
Shefali Solanki-Nair, associate publisher of Asian Trader, spoke of the impact of rising costs due to changes in wage laws and taxes.
She cautioned that convenience retailers will face an additional £666 million in costs from the budget announcements, with the wholesale sector incurring £110m from wage hikes alone.
“With increases coming to the minimum wage and National Insurance contributions from employers, one retailer is facing an additional cost of £41,000 per year to maintain current staff hours. To cover this expense, she will reduce staff hours, which will compromise the level of customer service, which she values. This is a message we are hearing from many retailers,” she noted.
Abhijit NairShe also voiced concerns over the upcoming tobacco and vape bill, specifically a new £2.64 duty on every 10ml of vape liquid, which would result in big increases in prices.
“This will discourage some from taking up vaping, including those who are looking to quit smoking,” said Solanki-Nair, adding that it “could result in a significant rise in illicit products, which has already been observed. With the UK already having one of the lowest smoking rates in Europe, retailers are concerned about the new tobacco policies.”
She also addressed the Post Office Horizon scandal – which Asian Trader has covered for several years: “This deeply troubling chapter has affected many convenience retailers who served as sub-postmasters. The wrongful prosecution of innocent individuals based on flawed technology and a lack of oversight has caused immense personal and financial damage.”
This year’s Ramniklal Solanki Editor’s Award was given to sub-postmasters and mistresses who were affected by the Horizon scandal.
The award, instituted in the memory of Ramniklal Solanki CBE, founder of AMG, is presented to a person or group of people who have made an outstanding contribution in the convenience retail sector.
Horizon victims and justice campaigners Seema Misra and Vijay Parekh represented the postmasters at the event. Wrongly convicted due to bugs in the Post Office’s computer system, both Misra and Parekh were sent to prison in 2010 – Misra while two months pregnant. Their conviction finally overturned in 2021.
Johnson (left) with Andy Riddle“Despite protestations of innocence, they have been slandered, abused, prosecuted, imprisoned, bankrupted and perhaps most hurtful of all, ignored – by the justice system, by the government and by the public, who had been kept in the dark about this greatest miscarriage of justice our country has ever seen,”
Kalpesh Solanki, AMG’s group managing editor, said. The Asian Trader of the Year 2024, the top prize of the evening, went to Shaan and Arshan Chaudry of Triple A Foodstore in Nuneaton. Their store took inspiration from Shaan’s travels all over the world to discover what would make the perfect retail destination.
Noted impressionist Rory Bremner hosted the event, which also saw 15 other retailers being honoured in different award categories.
Bestway Sher Depot, Kilbirnie Street, Glasgow, won the Wholesale Depot of the Year award. Six new product launches from last year, voted for by the retailers, were also feted.
The event at the Park Plaza Westminster Bride in central London also raised funds for Lepra, a charity that supports people affected by leprosy.
(From left) Kalpesh Solanki, Sarah Connor and Rashmita Solanki Alison O’Brien and Shailesh Solanki Amy-Jo Breach & Caroline McIvor Peter Batt (left) and Matt Collins The Ramniklal Solanki Editor’s Award was won by Seema Mishra and Vijay Parekh. (From left) Shailesh Solanki, Jonathan Reynolds MP, Davindra and Seema Misra, Vijay and Gita Parekh, Gareth Thomas MP, Kalpesh Solanki and Rory Bremner Sue Nithyanadan, Costcutter Epsom, Surrey. (From left) Shailesh Solanki, Silviu Miron from Philip Morris, Sue and Subramaniam Nithyanandan, Kalpesh Solanki and Rory Bremner Nathalie Kaur, One Stop Partick Convenience Store, Glasgow. (From left) Shailesh Solanki, Shivani Raja MP,Nathalie Kaur, Kalpesh Solanki and Rory Bremner Suresh Arulanantham, My Costcutter Murco, Rye, East Sussex. (From left) Shailesh Solanki, JTI’s Sarah Connor, Suresh Arulanantham, Kalpesh Solanki and Rory Bremner
Workers clean communication equipment aboard INS Surat on January 11