Westminster City Council, in partnership with New West End Company, has launched an exciting new project that offers small businesses the opportunity to take over a shop on Oxford Street, completely rent-free. Presenting a fantastic opportunity for small businesses to make their mark in London’s thriving retail scene, backed by the support of Westminster City Council’s Fairer Economy plan.
The programme invites applications from “innovative, cutting-edge and up-and coming brands who will offer something exciting and new to one of the world’s most iconic shopping streets”.
This programme aims to support small businesses seeking the opportunity to trade in London’s West End, including brands looking to launch their first store or physical space.
Selected brands will have the chance to operate from the prime location on Oxford Street for an initial six-month period, without the burden of rent expenses. Additionally, they will benefit from a substantial 70% reduction in business rates. This initiative aims to support up-and-coming businesses, including those looking to launch their first physical store, fostering their growth and development.
While the rent is waived, applicants need to be financially prepared to cover other operational costs during the six-month period. The programme is looking for businesses that show the potential for long-term success, demonstrating how the initiative can help them establish and strengthen their brand beyond the initial period.
