More UK retail stores closed in 2022 than in least five years.

The video discusses the challenges faced by the retail sector in the UK, highlighting a significant increase in shop closures and job losses in 2022. It explores the impact of rising costs and reduced consumer spending on both national chains and independent shops. Personal stories from shop owners illustrate the struggles with business rates and the emotional toll of closures. The video also provides an outlook for 2023, noting continued difficulties in the first half of the year due to economic uncertainties, but with potential improvements as conditions stabilize.

What is the significance of business rates for small retailers according to George and Lizzie?

What impact did rising costs have on consumer spending in early 2023?