Co-op has warned that 60,000 small shops and 150,000 jobs could disappear without urgent business rates reform, according to new research from the retailer.

The findings revealed 69% of UK adults lacked confidence that the Government would deliver on its promise of relief for small businesses, despite repeated pledges in previous budgets.

If reforms are not delivered, 10% of small high street business owners said they would need to lay off workers, while 1 in 8 said they would be at risk of closure. 

YouGov research also found that 56% of UK adults saw local shops as important to their wellbeing. 

Without them, 74% said that they felt “their community would lose part of its identity”.

Additionally, Co-op’s Big Survey found that 67% believed their high street was dying, 78% said it was worse than five years ago, and 83% saw it as vital to community wellbeing. 

Co-op group CEO Shirine Khoury-Haq said: “As we approach a critical Autumn Budget, there’s a real danger that the voices of small shops – and the communities they serve – are not being heard. 

“Local shops aren’t just businesses; they’re part of the social fabric of Britain. For some, a visit to a local store is one of the few chances they have to chat to someone and feel connected.”

She continued: “This research shows a clear public mandate for action. Regardless of how they vote, the majority of people want the government to do more to protect their high streets. 

“This is an opportunity for the government to really prove to people that they will do what it takes to make a difference to people’s communities and to their wellbeing.”

Last month, it was reported that consumer confidence slumped in September amid Budget concerns.

Expectations for the state of the overall economy dropped from -32 in August to -36 in September, the British Retail Consortium (BRC) reported.

Aldi UK & Ireland CEO Giles Hurley also recently warned that the upcoming Autumn Budget could affect consumer spending towards the festive season.

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