P1 – What is a Balance of Trade Policy?

A good market will have a varied offer of different items but when it comes to letting empty stalls it is always important to agree lettings against the background of a balance of trade policy. This can be a relatively simple document specifying, for example, the number of different trades permitted on the market or can allocate different trades to different parts of the market. It is important that potential traders know how your letting arrangements work and this should be a publicly available policy document. If you have empty stalls you are not obliged to let them to a trader if you feel that your balance of trade policy will be undermined. If, for example, you have three fruit and vegetable traders but several empty stalls, you have no obligation to take another fruit and vegetable trader if you feel that three is what the market can sustain, provided that such an arrangement is covered by your balance of trade policy.

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