Back Our Businesses: What has this shown us about how Northampton businesses are coping with the cost of living?

As Chronicle & Echo’s Back Our Businesses campaign comes to end, what has the past 12 weeks shown us about how Northampton businesses are coping with the rising cost of living?

Starting on October 6, this coverage has given a platform to business owners every week – allowing them to share the reality of keeping their ventures going strong.

Ahead of the campaign launch, a new Government scheme was unveiled to support businesses from rising energy costs until March 31, 2023.

However, as we have heard from the business owners themselves, rising energy bills is not all they have had to contend with.

At the beginning of October, St Giles’ Street business owners were already fearful about the challenges they were going to face in 2023.

Liz Cox, the owner of quirky bar The Eccentric Englishman, had only just celebrated the establishment’s first birthday and told this newspaper “a price hike would kill them”.

Uncertainty was also created for nearby shop owner Stephen Partington from Dychurch Lifestyle, who said the Government guidance left him feeling “confused and uneasy”.

Next, we visited a variety of shops along St Leonard’s Road in Far Cotton – from a 20-year-old fancy dress shop, to a luxury laundry company that people travel from across the country to visit.

There was a sense of panic as many of them do not own the properties they trade from and assumed it was only a matter of time before their landlords raised the rent.

The independent shops along Kingsthorpe front, particularly on Harborough Road, were experiencing a different fear – the competition from the chain supermarkets and eateries, who they believe can account for rising costs in other ways than increasing prices, unlike small businesses.

In the coming weeks we then heard from some established and popular Northampton businesses – Duston Village Bakery, My 1st Years, and The Swan and Helmet Pub, which doubles up as The McCarthy-Dixon Foundation.

Owner of Duston Village Bakery Jenni Smith said: “If you don’t use us, you’ll lose us.” This poignant message has been at the heart of all stories shared over the last three months.

Looking into what Duston has to offer did not stop there, as the owner of Feather Robins Gifts, a new gift shop based in St Crispin Retail Village, shared the reality of setting up shop during the cost of living crisis – and her plans to open for fewer hours during the post-Christmas lull.

Two town centre destination venues, Nuovo Restaurant and Bias Gifts, may not be fearful about their futures, but are urging customers to spend with them to save them.

Though there have been many setbacks with an increase in the cost of utility bills and the price of stock faced by all, there has been an overwhelming sense of optimism when looking to 2023 – and that is because of the loyal customer bases they have built.

One thing is for certain, and that is customers want to do their best to stand by the independent businesses they love shopping with, even when times are tough.