The Inclusive Economy and Culture Scrutiny Panel was scheduled to discuss market improvement planning and the management of small parades. The panel was also set to consider future reports for upcoming meetings.

Review of Markets and Update on Market Improvement Planning

The panel was scheduled to consider a report on market infrastructure improvements and market activation. The report detailed progress on the Market Improvement Plan, including upgrades to infrastructure, the trader mix, and footfall trends. It highlighted the reopening of Beresford Square Market in June 2025 following public realm works, which included a new urban garden, terraced seating, lighting, and an interactive water fountain. The report also outlined revised trader licensing rules introduced in March 2025, which include annual licence reviews, a strengthened process for non-payment and arrears, a two-month deposit for new permanent traders, and a three-month cap on sickness relief.

The report indicated that Beresford Square Market, with 49 pitches, has seen high demand since its redevelopment, with an occupancy rate of approximately 94%. The trader mix was described as diverse, reflecting the community's backgrounds. The report also discussed opportunities for growth, including differential pricing by commodity, peak and off-peak tariffs, premium pitch zones, loyalty and multi-day discounts, and integration with events through the new Outdoor Events Policy.

Challenges faced by existing Woolwich Market traders were also noted, including cost pressures from fee increases and food inflation, reduced stall space, and potential operational disruptions from planned redevelopment projects. The report referenced lessons learned from other boroughs, such as Tower Hamlets, Havering, and Camden, regarding hardship schemes, outsourcing, and branding. The report also detailed how markets support local enterprise, employment, and community engagement, including branding initiatives for Beresford Square Market and a Young Entrepreneurs Christmas Market programme. Collaboration with events and stakeholders to activate market spaces and curate programming was also a focus, with mention of Weekender Events.

Small Parades Management

The panel was scheduled to review the Council's approach to managing small parades across the borough. The report highlighted that while major centres and district centres receive significant attention, neighbourhood parades have not had the same level of focus. These parades, typically comprising 5 to 40 units, are important for serving communities, offering opportunities for small businesses, and contributing to neighbourhood vibrancy.

The report identified 34 neighbourhood parades across the borough and analysed data from sources such as the High Streets Data Service, which provides information on footfall, spend, and shopfront vacancy rates. The analysis indicated that food-related premises constitute the largest share of business types on these parades. While there was a mixed picture regarding footfall and spending trends, some parades, such as Brewery Road and Bexley Road, Avery Hill, appeared resilient, while others, like Hillreach, Woolwich, and Wickham Lane, showed signs of challenges.

The report also detailed the performance of two sample parades: Westmount Road and Brewery Road. Westmount Road was described as resilient with a low vacancy rate, despite a recent decline in footfall, with an increase in total spending, particularly during the night-time economy. Brewery Road showed stable footfall with an increase in spending, supported by its mix of independent businesses and convenience retail. The report also discussed parades owned by the Council, noting a low vacancy rate and income generation. Issues such as the constraints of available premises, changing consumer behaviour, and the impact of planning policy changes, including Use Class E, were also to be considered. The report also touched upon targeted support and funding, noting that government and regional efforts have primarily focused on high streets and town centres.

Commissioning of Future Reports

The panel was asked to note the work items scheduled for the meeting on 8 January 2026. These included an update on the Greenwich Supports Strategy, a performance review for Welfare Rights & Advice provision, and a discussion on Night Time Enterprise Zones and how the Council's licensing policy could enhance the night-time economy. The panel was invited to consider the scope of these forthcoming reports and specify any detailed requirements to ensure their lines of enquiry were addressed.