The Saint
St Andrews bounces back after credit crunch
Kosuma Kornkanitnan
Photo credits: Jake Threadgould, Celeste Sloman
According to statistics, the recession has officially come to an end in Britain and despite the feeling of uncertainty that still looms large over the economy, tangible signs of a recovery have begun to appear.
For evidence of this there is no need to look further than the streets of St Andrews, which were relatively, but not completely insulated from the effects of the recession. Formerly dark and empty shops are transforming into bright new businesses; a clear sign of an increase in consumer confidence.
The businesses that have seen a window of opportunity here in St Andrews have brought an air of cautious optimism to the town, which is regarded by Fife Council as key to economic growth.
The average university student spends around £820 per year on food, making St Andrews a good choice for new businesses Flip!, Café 13 and
Minicks butchers on South Street.
Targeting students has its advantages, but also its perils as Philip
Bartholomew of Flip! commented. He recounted how his eco friendly
café had been busy immediately and that thanks to word of mouth
and advertising in halls, the place is buzzing at lunchtimes. Despite
this the holiday period saw a considerable collapse in demand.
Stuart Minick, Owner of Minicks butchers which established itself in
St Andrews in February, said, Business has been superb really,
which has been very reassuring. Ive also been very impressed by
our student customers who have proven to be very knowledgeable
about the different meats available.
However, the credit crunch has been a mixed blessing for small
businesses such as Mr Bartholomews. It was the recession that
made his move from Perth to St Andrews possible, as the drying-up of finances gave him a better position from which to negotiate rents for his South Street shop. Yet the credit crunch has also meant that he has had to put his plans for further expansion on hold.
Despite this, a walk around town suggests that St Andrews recovery from the recession has well and truly begun and that businesses are indeed right to be optimistic about the future.
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