A team of industry experts and business leaders are being recruited for the creation of The London Market Board as part of an investment into boosting street markets across the capital.
Street markets play an integral role in the fabric of London society, and that’s why Mayor of London Sadiq Khan has launched a plan to “preserve and grow” the street market scene.
Currently there are more than 250 street markets, up from 162 seven years ago.
The London Markets Board will be the first of its kind in the capital and will be made up of 12 to 14 members covering a range of expertise and working on key issues. Board members will also come from different sections of the market’s community such as operators and trader associations. The recruitment process runs until May 2.
The Board will advise the Mayor and Jules Pipe, the Deputy Mayor for skills, regeneration and planning, on strategy and action to support and promote the capital’s wholesale, street and covered markets.
“I’m a proud Londoner and a proud Englishman who has grown up with traditional street markets. Markets are deeply woven into the tapestry of English culture and nowhere is that more true than here in London. They are far more than a place to do your shopping – they are places where people meet and talk,” says Mayor Khan.
“I promised to be the most pro-business Mayor that London has ever seen which is why, as we lead up to St. George’s Day, I have pledged not just to preserve and protect London’s markets but also to set up our very first London Market Board to help ensure that these spaces thrive for the benefit of local entrepreneurs, small businesses and everybody who visits them.”
On top of setting up the new Board, the Mayor has ordered City Hall to examine the social and economic value of markets around London.
“Understanding London’s Markets” will examine aspects like employment, skills and training, community cohesion, health, well-being and culture. It will include the first ever map of all London’s markets, which will allow people to search for markets online.
“Markets play an integral role in the fabric of London society. They are more than just a place to do business – they are a place to socialise, are part of our capital’s heritage and provide cultural benefits to London’s tourism offering,” adds Sue Terpilowski, London policy chair, Federation of Small Businesses.
“They provide a good starting point for many new businesses as they discover key intelligence about their target market. It is a great way to learn about customers and business skills and are an integral part of the growth journey for many businesses.”
Graham Wilson OBE, chief executive of the National Association of British Market Authorities, also welcomes the Mayor’s decision.
“The Markets Board will provide the ideal opportunity to raise the profile of markets and address some of the issues that are important in securing a successful future for markets. The Markets Board is the beginning of a new era for markets and one that everyone associated with markets welcomes with great anticipation,” he says.