It has had a huge impact on business as a whole over the past few years, however, lately we have also seen a rise in the number of new, independently owned companies starting up.
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Places such as Mod & Rock in Canterbury and The Cauldron of Inspiration in Folkestone have had huge success in this economic climate. With the loss of so many businesses it has left a huge gap in the market that independent retailers are snapping up.
Niche stores are opening up to take the place of larger outlets that have closed down. Whether this is a smart move is yet to be determined, but so far in Canterbury, they have had a lot of success. However, manager of Mod & Rock, Nancy Reed said: "This is down to a strong tourism market. We are so lucky that Canterbury is a tourism hospot because it means that we can afford to have specialist stores like this."
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