Small businesses should be given greater incentives to revive half-empty High Streets, Dragons’ Den star Theo Paphitis told an audience of London entrepreneurs last night.
Speaking at the Evening Standard’s Business Connections event, the owner of Robert Dyas and stationery chain Ryman said: “If a shop has been lying empty for a certain period of time, local authorities should compulsory purchase it and then put it back out again with a reduced rates burden to allow people to trade.”
He also called for small and medium-sized enterprises to be treated more fairly, saying that practices such as having to wait 90 days before receiving payment can be “terminal”.
Paphitis said: “Small businesses should not pay the same level of taxation and national insurance as my businesses for instance, they should have breaks, they should have advantages.”
The current economic climate should not deter anyone from starting a business either, he added.
“Some of the best businesses in the world came out of a recession and if you can do it now, as the song goes, you can do it any time. The time when you can show how good you are is at times like this, when it is tough.”
Business Connections is the Evening Standard’s club for small firms comprising advice and regular networking events.
