Rent hikes, business rate increases, National Insurance and minimum wage increases have hit businesses around the UK this month.
Hampstead Community Market is home to half a dozen independent traders who must fight high street chains for customers.
The Ham&High spoke to them about how they were dealing with rising costs.
Eva Fuertes from Montadito (Image: Nathalie Raffray)
Eva Fuertes co-owns cheese and charcuterie specialist stall Montadito with her business partner Victoria Skyftou.
She says Brexit and the pandemic have now been followed by the National Insurance rise making it impossible to take on staff.
She said: “We were importing directly from Spain but after Brexit it was almost impossible. During Covid we started to add more products.
“It’s very hard. We suffered from the start of Brexit but every year there’s something more to add to the struggle.”
“At the end of the day, if one day I don’t receive my salary, it’s alright, but it’s not alright,” Eva added.
As well as rising product costs, suppliers are making extra demands. Where previously Eva might spend £100 with one, they are asking for a minimum order of £300 to cover fuel price increases and other things.
She added: “People always complain about the prices but they don’t realise this. They think because we are a stall, not a shop, we don’t pay anything, but we do.
“This year we made a massive effort to cut expenses as much as we could, we pay accountants, things like that. It’s hard, it’s very hard.”
Next door, Farza Emami and Patrick Bourke, butchers at MEAT Naturally, have been trading for 17 years and have regular customers, but still face difficulties.
Farza said: “Hampstead people are affluent but since Brexit a lot of our customers have gone away; City people, European people, they found it cheaper to work abroad.”
Large families have shrunk, with children leaving for university or jobs elsewhere.
“We’ve noticed the shrinkage, it’s been fairly consistent,” Farza added.
She said inflation went up by 10% last year but this year by 4%, adding: “Prices of our products are constantly going up but we try and keep them as low as we can.”
The loss of banks also hits them. They prefer people to pay in cash, but Barclays is the only bank left in Hampstead,
Their neighbouts Amin Khetta and Rashid Feddag relaunched their stall as Pizza Napoli after four years at the beginning of April, having previously sold Mediterranean food.
Amin said people are surprised but they changed because they didn’t have regular customers.
They also have arrangements with Deliveroo and Eat. “We had to expand,” he added.
Family business Hampstead Seafoods has been operating at the end of the parade for 35 years.
“It’s not as busy as it used to be just after Covid but it’s still pretty good,” said fishmonger Daniel Abrey. “We have established customers who believe in us and our product.”
He said it’s “quiet” during the school holidays, religious holidays and events like Wimbledon and Ascot.
They too have been affected by Brexit and Covid. “Things used to be cheaper and our customers notice, but it’s not in our control,” he says
Some price rises look steep. Salmon roe has risen from £11 to £21, white crab from £20 to £42, and they no longer sell herring roe.
“Since Brexit less stuff is imported, and certain things we used to get we don’t,” explains Daniel. “It used to be £2,000 per transit and now it’s £10,000 so we’re importing less and less.
“When there’s war, gas and energy goes up, that’s affects us all as well.
“Luckily this is Hampstead and we try to get the best quality stuff for the people here.”
