As
renewal implementation plans start to be explained, the big question from
traders at QVM is what guarantee do I have that there will be a position for
me? This comes from a background discussion about some categories of traders
that are currently over represented and a push to raise the general level of
excellence in retailing at QVM so that our market truly meets the needs of 21st
century customers.
Traders
have been told that there will be a position for all willing traders in the
lead up to the first stage of construction and during the construction stage itself.
With the digging of the first hole not expected to commence before the end of
2017 (Munro's might start earlier), and construction expected to take 18 months
- 2 years, that gives a time frame of a few years. But it is after that time
that the guarantees are less clear. Will traders have a stall to return to, and
will it be the same size and the same position that they currently occupy?
Should traders be expected to go through the hell of a renewal only to find
that there is no role for them at the end. These are emotion charged questions
that deserve attention.
Of
course, in retailing, and small business entrepreneurship generally, there are
not many guarantees. Shop leases are often short term and retailers know they
are taking on something of a gamble when they sign up. Ironically, PE Traders
at QVM with their common law tenancy rights are in a stronger position than
most retailers around the globe. Similar rights have existed in the UK although
we know of at least one case where the owners and traders agreed that
succession rights would apply to just one more generation before reverting to a
more common tenancy arrangement.
Whilst
there is always uncertainty surrounding entrepreneurial activities, there must
be a reasonable expectation that modern businesses require some stability. The
current situation at QVM with leases and licences that have come to an end, and
essentially operating on a monthly basis, is anti-business. Traders cannot get
bank loans without a lease. Even the smallest of traders are forced to consider
making bulk purchases (in some cases two years supply) in order to get the price
benefits that make them competitive. Would you buy 2 years stock whilst on a
monthly tenancy? Would you invest in new plant and equipment on a monthly
tenancy?
These
are real issues for traders and therefore real issues for QVM management if
implementation is to proceed in an orderly fashion. These issues will need to
be thrashed out over coming months and next week's information sessions
followed by precinct meetings and finally one to ones, will hopefully give
traders the guidance and assurances they can reasonably expect.
