Aspiring UK retailers have the chance to set up shop for the first time this year via a programme and new contest from global wholesale marketplace Faire, which has already helped 500 independent retailers open stores across the country since 2022. Faire, which connects hundreds of thousands of independent retailers with 100,000 independent brands across the world, will expand its Open with Faire programme in the UK over the next 12 months.

The winners will be awarded £5,000 to spend towards inventory on Faire to stock their stores ahead of opening day. After completing an application, a shortlist of five retailers will be selected by a judging panel comprising Rebecca Morter, founder & CEO of Lone Design Club; Andrew Goodacre, CEO of British Independent Retailers Association (Bira); Wilfred Emmanuel Jones MBE; and Charlotte Broadbent, Faire’s Country Lead for the UK.

 

 

Commenting is Ami Vora, Chief Product Officer at Faire.

“We are all about levelling the playing field for customers and making opening a retail business as seamless as possible. Open with Faire is an extension of our core business model, and by providing access to the inventory our customers need to get started we’re not just offering financial support, we’re investing in the dreams and ambitions of future business owners.”

Earlier this year, more than a third of Britons told Faire that they dream of running their own shop. However, a lack of financial support and a fear of failure were the biggest barriers. In response, Faire is launching its first UK contest to help two aspiring retailers open their dream store. Designed to bolster the growth of the independent retail community and make opening a retail business easier than ever before, Open With Faire offers new shop owners up to £20,000 in credit to stock their shelves ahead of opening day, with no added interest or fees and net 60-day payment terms.

With limited funding options available to small business owners, generating enough capital to cover all opening costs can be challenging.

“Retailing is a dynamic industry but incredibly challenging, especially for new starters,” adds Andrew Goodacre, CEO of Bira. “It is therefore fantastic to see Faire launch this competition. Retailing on high streets needs new ideas and new ways of working if it is to continue to be relevant to shoppers. I say well done to Faire and I am delighted to be a judge and part of such a positive initiative.”

Further information on Open with Faire is available here, and aspiring retailers can apply to the contest here.