Traders at Sheffield’s Moor market have been hit by a 26.5% service charge hike.
The Waste and Street Scene Policy Committee members announced the decision to increase service charges by 26.5 per cent in 2024/2025 for the first time since 2013.
Sheffield City Council said that the increase is to cover inflation and higher energy tariffs.
Firas Al Bermawi, owner of Moor Perfume, said Moor Gate used to be a “cosy place” for Sheffield residents and students.
However, he believes =the number of people visiting the market is dwindling due to inflation.
“We noticed a big difference. There aren’t as many shoppers and they are worried about prices.
“They used to buy in bigger quantities, now they check everything and this is understandable,” he added.
Craig Goodridge, owner of Goodridge Travels echoed Mr Fermawi’s thoughts.
Mr Goodridge has only been trading in Moor Market since June and said he had observed falling sales over the past few months.
He said: “It’s a little disheartening. Prices are going up already and I’ve only been here for a short amount of time. I hope it doesn’t go up year on year. “
Last month, shop owners received a summary letter from the Sheffield City Council informing them of rising rents. Traders who were unable to stay afloat were forced to shut their businesses.
Mark Holmes, who is a small business owner himself, called the price hikes a “struggle.”
“Something’s got to give and nine times out of 10, it’s usually my wage that gives,” he said.
“I think if I equated the hours that I put into the business, I’d be [earning] way below minimum wage.”
He said small businesses struggle particularly because they have to keep prices low to compete with supermarkets and bigger chains.
Although the markets have been busier than it was during the pandemic when compared to the costs of products, the sales are insufficient.
Calling the price hike a “double-edged sword”, he added while the rise in minimum wage is positive, the subsequent rise in cost offsets the positive effects.
