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Friday
Oct082010

VAT Exemption Attracts Huge Rise in Stallholders at a Farmer’s Market

It is always heartening to read good news coming out of a regional area of the country, especially when it comes to small businesses.

This is exactly what has happened with regard to a farmer’s market that looked set to close in Shrewsbury recently. The membership for the market fell to such an extent that only ten stalls remained open, and things were looking bleak.

But an overhaul of the system has led to a huge 200% increase in stalls. Smaller producers have also been attracted to the new system because the owners have started offering VAT exemption status for them. It has led to a revived market that is visited by many more people, and the hope is that more will arrive in the future as they discover the new lease of life on the stalls.

This is wonderful news and I was delighted to read that enterprise in a market town has not yet disappeared. It clearly took a different approach to ensure that the market could survive, but it has worked and now the future looks very bright for the market and for those who have stalls there.

It also looks to be a win win situation in terms of the market, the stallholders and the people who will visit it. I hope this good news continues in Shrewsbury, and also that other towns take notice and find ways to make their own markets continue to work and thrive. The VAT exemption has certainly helped, as many of the stallholders produce only a small amount of goods to sell.

St Matthew helps small businesses of all kinds every day with regard to their finances and taxes. We may be able to help you to, so contact us today.

 



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