Bristol Market Traders May See Fee Increases

Market traders in Bristol could face an increase in fees as city councillors work towards achieving an income target. Bristol City Council is scheduled to discuss proposals for St Nicholas Market in Old City, an establishment that dates back to 1743. The market currently hosts 63 independent traders who sell food, clothing, and arts and crafts. Approximately half of these traders have been operating there for over a decade, with some having a tenure exceeding 20 years. Traders will be consulted for a period of six weeks regarding the proposals before any final decisions are made by councillors. This year, the local authority intends to spend £591,000 on the market and anticipates receiving £646,600 in income from traders. However, the established income target was £746,000, a figure projected to rise to £761,000 next year, according to the Local Democracy Reporting Service. In the Exchange Hall, the average weekly fee for a business is £177.16, while the Covered Market costs £158.61, and the Glass Arcade is £123.93. The report, which councillors will discuss, indicated that the Glass Arcade was the “most lucrative” area, attracting 75% of the market’s 3.7 million visitors last year. It stated that it was “not reasonable” for traders in that section to be charged the lowest fees. “There is scope to invest in the market to provide better infrastructure for the current traders, through operational improvements and more effective emergency repairs. It may also be possible to put on events and night markets.” The report, however, added that “this will require additional investment which is not justifiable when income targets are not being achieved.” It further noted that the low fees contribute to a “low turnover of businesses” and that hosting new vendors would encourage customers to return. Options presented include a flat percentage increase to all fees and applying a fee based on the turnover of food and drink traders, which would mean the council received 15% of their profits. Bristol City Council’s economy and skills policy committee is set to discuss the report on 9 December.