Shopping centre owners launch talent comp
Written by Peter Walker
Retail property organisation Revo has launched a new competition to find budding entrepreneurs in the sector, with winners given free shopping centre space and help with marketing their concept.
HATCH by Revo is backed by Landsec, Hammerson, Westfield, M&G Real Estate, Harcourt and Ellandi. Together with the British Independent Retailers Association (BIRA), they will run a Dragon’s Den-style competition, with no restrictions on what type of businesses can enter.
The competition will run for two months, with winners announced in May. The exact offer varies from location to location, but all winners will benefit from win free rent, with business rates and service charges covered too.
They will also receive professional marketing and business support to help promote their concept and a year’s free BIRA membership, which includes a retail insurance scheme, card processing, free legal advice and preferential banking rates.
Current locations include Westfield Stratford City in London, St David’s Dewi Sant in Cardiff, Silverburn in Glasgow, The Galleries in Tyne & Wear, Parkway Shopping Centre in Limerick, Republic of Ireland and Bloomfields in County Down, Northern Ireland.
Revo also used the launch to warn that urgent action is needed by government at both a local and national level, such as reforming business rates to level the playing field between online and physical retailers.
Samantha Sen, head of policy and campaigns from Revo, said “We believe that the retail success stories of tomorrow will come from today’s pop-up shops, kiosks, and e-tailers, as dozens of brands and chains we now know and love have proven.
“However, HATCH is about more than just identifying the next wave of entrepreneurs and talent who will shape – it is a demonstration of the industry’s commitment to invest in the communities we are embedded in,” she continued, adding: “Yet there is only so much the industry itself can do, we need to see urgent action from government at all levels to reduce the burden on retailers and revitalise our high streets.”