NABMA welcomes the measures set out in the Autumn Budget, which provide significant opportunities for the market sector to access funding for skills development and regeneration. The Government’s commitment to investing in people and places is clear, with several initiatives that can directly benefit markets and their communities.
Key announcements include:
- £1.5 billion over the next three years for the Youth Guarantee and the Growth and Skills Levy, designed to help young people earn or learn through apprenticeships and training programmes. This funding can support market operators and Young trader initiatives in upskilling and attracting new talent into the industry.
- Free apprenticeships for under-25s in SMEs, which will help address critical skills gaps and bolster small businesses, including independent market traders and private sector operators.
- Devolution of £13 billion in flexible funding to mayoral authorities for skills, business support, and infrastructure, creating opportunities for Markets and Market Partnerships to engage with local leaders and secure investment for regeneration and growth.
These measures reflect the growing recognition of markets as vital contributors to local economies and community life. Skills development is essential for ensuring that markets remain resilient and competitive in the face of changing consumer behaviours, digital transformation, and sustainability challenges.
NABMA is at the forefront of championing markets within Government, advocating for policies that acknowledge their economic and social value. We will continue to work closely with policymakers and local authorities to ensure that these funding streams are accessible, add value and deliver tangible benefits for our members.
This Budget represents an important opportunity for collaborative action. NABMA remains committed to supporting its members in navigating these developments and ensuring that markets play a central role in the Government’s wider agenda for skills, growth, and regeneration.