Midlanders value the pub higher than any other local business

MIDLANDERS value the pub as their most important local business, a new study has concluded.

THE research, conducted for Santander Business Banking, found that for nearly half (46%) of people questioned valued the pub as their most important local amenity, closely followed by the traditional newsagent (45%) with the take-away (34%) completing the top three.

Santander said the research also suggested that the local business environment was evolving to meet the changing requirements of communities in the Midlands.

It said traditional amenities, such as the bakers, butchers and grocers, are increasingly being joined by new ones; two-thirds of people in the Midlands (63%) now live within walking distance of a coffee shop; 62% are near a gym; while over half (57%) say they have a nail bar on their doorstep.

The findings reveal that consumers in the Midlands say they are spending an average of £86 per week in their local stores and businesses – slightly below the national average of £88 per week – which would make the local business community in the Midlands worth around £56bn per year.

In particular, people in the Midlands are big users of home and garden businesses. Nearly two thirds (63%) live within walking distance of a home improvement/DIY store, which is more than any other UK region. Additionally, nearly a third (29%) of those living in the Midlands spend between £20 and £30 a week at both the garden centre and the decorating supply shop – greater than in any other UK region.

Traditional businesses also continue to attract high numbers of patrons, with nearly half of those polled visiting their local grocery store (42%) or newsagent (41%) at least once a week.

There is also appetite for more local amenities in the Midlands with two-thirds (66%) identifying at least one additional business they would like to see open in their area. Top of this list is the bakery which around one in seven (15%) people would like to see near their home, whilst 14% people identified the pound store it as the business they would most like to have in their area.

Robin Foale, Managing Director of Santander Business Banking, said: “In the current economic climate, confidence among local businesses owners is still quite low. However, this research highlights how local businesses remain a relevant and integral part of any community.  

“People in the Midlands clearly value their local amenities, spending an average of £86 per week within a 15 minute walk of their house. There are still a huge number of opportunities for business owners and we are committed to supporting them as they look to develop and expand their companies.”