Market incentives set to continue
Released: 19 February 2008
Wolverhampton councillors are being asked to extend the package of incentives available to attract new traders to the city’s markets for another year. Members of the cabinet resources panel will decide whether to keep the range of discounted rents when they meet next Tuesday February 26.
The council came up with the scheme last year as a way of attracting new stallholders to the indoor and outdoor markets in the city centre, Bilston and Wednesfield.
Some of the discounts available include a 26-week 50 per cent rent reduction for anyone selling a new tradeline at the city centre’s indoor market or a 4-week 50 per cent rent reduction if a casual trader takes up a licensed stall at the outdoor market.
Councillor Pat Byrne, cabinet member for the environment, said: “We want to do all we can to attract new and exciting trade lines to our markets. The incentives package that we offered to attract new traders last year achieved some successes and we will make a decision whether to continue with it next week.”
As well as deciding on whether to continue with the incentives package, councillors will also be asked to approve an increase in fees and charges across the markets service of three per cent in line with inflation.
Last year fees were frozen at 2006-2007 levels, but this failed to prevent the decline in trader occupancy levels at all markets other than Bilston Indoor which remained at 100 per cent. Occupancy levels at the city centre outdoor market fell from 56 per cent in 2006-2007 to 53.7 per cent in 2007-2008 and from 89.2 per cent to 88.1 per cent at the city centre indoor market.
The complete package of proposals will be discussed with trader representatives from each of the council’s markets.
Councillor Byrne added: “Regrettably we are proposing to increase fees in 2008-2009 in line with inflation after freezing them at 2006-2007 rates last year. The freeze had no affect in arresting the decline in trader occupancy levels and our markets service, like many others across the country, continues to face a very difficult financial position.”
Issued by the press office. |