After feedback received from the community from last week’s Empty shopfronts article, the Bunbury Mail has launched a series to look at both the problems and the possible solutions to minimise the amount of vacant spaces in the CBD.
In the coming weeks our team will meet with local stakeholders, leaders and business owners to look at all sides of the issue and plans that are in the pipeline moving forward.
With a number of Bunbury businesses closing down or up for sale in the past three months, the Bunbury Geographe Chamber of Commerce and Industry has shared its concerns.
Chief executive Mark Seaward said businesses closing because of economic conditions was worrying.
“We understand however, that there is always a level of churn in business and a number of the recent closures were made for a variety of reasons including changed personal circumstances and changes in corporate strategic directions at a national level,” he said.
“We do think that the lack of consumer spending across the board is a major contributing factor driven by static wages, the increasing cost of basic services and a lack of community and business confidence.
“Rents are but one cost factor in a business, any business entering a lease understands these base costs and develops their business plan and sales strategies understanding these costs.”
Mr Seaward said the drop in consumer spending and online competition in the retail sector were the main factors contributing to retail businesses being under financial pressure.
“Consumer confidence which is related to household discretionary spending will only be lifted with an improvement in the economy, more jobs being created in the region and improving household income levels,” he said.
“Empty retail spaces are filled when people see an opportunity to create a business that adds something unique to the retail experience that attracts customers in a growing economy.
“Bunbury Geographe has an opportunity in the next 12 months to reinvent itself as a destination and the chamber is taking an active role in this process.”