In my part of the world, there is a wide and questionable gap between businesses and the rent they pay for shop spaces, especially for businesses that operate in rented building facilities. I recently got myself into the stressful process of relocating my workspace, and it has been hell with regard to shop scarcity and the high cost of the available ones. Like, how are small businesses that are on high shop rent surviving? This is the question I have been asking myself. With the way things are currently, for a small-scale business that makes $1,000 annually, the rent for the shop is going to take nothing less than $400. It is as bad as this, and by the end of the year, the business owner cannot boast of anything.
The best thing to do at this point is to get land and build a shop, whereby one would not need to pay shop rent anymore. But this is not easy; in fact, it is not achievable for a small-scale business because the cost of building a shop, no matter how small it is, is very high. The hair salon close to my place of residence was built by the owner, and I can imagine how much was spent to put up such a fine structure like that. But the thing is, they are never going to pay shop rent, and if they were to pay rent for that structure, only God knows how much it would cost per year. Lol.
Maybe things are softer in other parts of the world, but in this part where I am, renting a shop is very crazy with regard to the high cost. The landlords here in my part of the world are in a competition over who increases house rent and shop rent the most. No lies, the city is developing at a speedy rate, and with that, everything involved must get along, but hey, it is obvious that shop rent took it very personal. As it stands now, most businesses that operate in rented shops are working solely to pay shop rent. It is very bad!
Thanks for reading.
The photo used is mine