“We Won’t Last Another Year”:The Business Rate Increases Threatening to Wipe Out Havering Shops.

“Our business rates will triple again in April to £19,000 and we simply don’t know what to do.”

Many businesses across Hornchurch and Upminster fear they may not survive another year following sharp increases in business rates, with local retailers warning that the mounting financial pressure is pushing high streets towards a breaking point.

Shop owners who spoke to the Havering Daily described the rise as unsustainable, saying it is rapidly forcing independents to consider shutting their doors for good. Several reported that the latest changes are accelerating closures and discouraging new investment, leaving already struggling shopping areas increasingly vulnerable.

One retailer revealed that their monthly business rates bill jumped from just over £300 to more than £1,000 within a year, a rise they say has dramatically altered the viability of their business.

The wider tax burden is also being felt. Increases in alcohol duty have led to fewer customers ordering wine in restaurants and bars, placing further strain on hospitality venues already battling rising overheads.

Traders spoke of watching neighbouring shops close while empty units deter new businesses from moving in. Many now fear the continued pressure could see even more “closed” signs appear across local high streets.

The Havering Daily will be running a series of articles speaking directly to shopkeepers about the real impact of business rate increases and what it means for the future of our town centres.

Business rates breakdown

• The standard business rates multiplier in England rose to 54.6p in the pound for the 2024–2025 tax year, up from 51.2p, reflecting a significant inflation-linked increase.
• The small business multiplier increased to 49.9p, from 49.1p previously.
• These rises were tied to September inflation, meaning many businesses faced higher bills despite ongoing economic pressures.

With another financial year approaching in March, many retailers are now asking the same question: could the next increase be the straw that breaks the camel’s back for our local high streets?

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