THE revitalised Nicholas Street precinct has been spruiked as “bringing in people and business, and bursting with opportunity” but for one nearby trader that has proven to be anything but the case.
Little Pretzel Shop owner Stacey Gleeson said she had decided to close her shop at 40 Nicholas Street. The shop opened last November.
Ms Gleeson said the spiralling cash rate, high shop rent and lack of flow-on custom from the newly revitalised CBD had led to finances drying up.
She said she knew running a small business was a tough gig but didn’t expect trade to drop away so rapidly.
“The business started off strong and we felt confident it would pick up as more stores opened in the area and there was more publicity,” Ms Gleeson said.
“We were expecting that trade would soon spill over to us but that did not happen.
“It was all a very different outcome based on the information we were presented with by the council about how the Nicholas Street precinct would operate.
“The events and marketing are only focused on the council-owned part of the area, leaving the small, independent businesses without much support.
“When things started declining, we could see where things were heading and prepared for the exit strategy.
“The significant downturn in business meant that, on some days, we weren’t even covering our opening costs.”
Ipswich Central Redevelopment Committee Chairwoman Marnie Doyle said Council recognised the current economic climate and challenging times for small businesses across the region.
“Increasing food costs, fuel prices, staff shortages and higher interest rates have hit everyone hard and Council has been trying to assist its ratepayers and business community wherever possible,” Cr Doyle said.
“Council is always concerned when independent small businesses close their doors, but with the opening of major tenants, Hoyts and the Commonwealth Hotel, remains confident the entire precinct will continue to grow steadily into the heart of the city.”
Ms Gleeson said she had been stunned by people’s support.
“We have been overwhelmed by the amount of awesome, kind, supportive people and small businesses in our local area and are so grateful to each and every one of them.”
She said a new business venture would begin in the “European bakery space” once conditions looked right again.
