This year will be known for the big migration of working people out of the cities in the UK and around the world.
In London alone, 1.6 million people are expected to have left London for places in quieter areas. This represents a remarkably high proportion of homeowners or renters that are vacating their homes or apartments and leaving their city life behind.
The fact that almost half the workforce is thinking about it makes 2020 a year in which we saw dramatic change.
It means that the change is likely to become a permanent way of doing things, where people will work from home, start new businesses in smaller towns, and be looking for employment in areas that are economically poorer.
The advantages are that house prices are considerably cheaper, for now, in smaller towns, and of course there is less hustle and bustle, making the quality of life a whole lot better.
Choosing a new place to live is quite a challenge, and it involves considerable upheaval in the process of doing so.
Stop & Store self-storage has noticeably big part to play in the modern economy of Lowestoft, where we facilitate storage for new homeowners and businesses that relocate, set up and establish themselves here. Self-storage is a very cost effective and convenient way to store goods while in a transition period.
What is the Modern Economy?
Many entrepreneurs and business owners will have suffered economically recently. This has been caused by the extended periods of lockdown and people having less discretionary money to spend generally.
The modern economy has caused cities and towns to reassess their business practices. A holiday seaside town relying on tourism is likely to have been affected badly. In cities, offices have become vacant and shopping centers have experienced reduced trade.
The modern economy may require that these offices be used more effectively such as for low cost housing or boarding establishments for students.
Modern shopping centres could become places of trade for low cost items, while the nature of cities could change and become far ‘greener” using alternate sources of energy to do so.
As things change, we thankfully tend to focus on the bright side, help others get closer to our families, and question what we really want out of life.
There are many people that have helped others during this period by
- Giving to the poor, sick and needy and making donations of spare cash to charities.
- Giving their time and energy by volunteering to work at soup kitchens and homes for the elderly.
- As we have been restricted in movement, we have supported local enterprises, such as local shops and farmers in the area.
- Employers have put their staff first and managed to support them during the period of hardship in order to keep their loyalty and skills for the future.
- Essential workers have been the unsung stars helping patients with care and dedication.
Its been a challenging time for all.
Lowestoft and the Modern Economy
What used to be a well-respected fishing town now only has a small fleet of fishing vessels, due to the decline in fish stocks generally. Along with that has gone the shipbuilding and repair industries associated with it.
As the most Easterly town in the UK, it‘s position is well suited to the oil and gas industry. As mentioned, Lowestoft is also a tourist destination.
In order to reinvent itself, Lowestoft has become a major player in the renewable energy sector, a development in the modern economy that holds a lot of potential. Some of the energy innovations include solar thermal energy, wind energy and tidal energy. In fact, the largest wind farm in the world is situated just offshore with huge turbines generating energy. The windfarm construction can be seen to take place in Lowestoft harbour.
Tidal and wave power developers are also to be found in Lowestoft, where skills are needed for their growing businesses.
A second characteristic of the modern economy is the development of technology. Lowestoft is fast becoming the base for a lot of tech start-up companies. This gives the people who are taking advantage of working more remotely across the UK an opportunity to settle in Lowestoft.
Lowestoft is a nice place to live, with a great beach. It is 30 miles from Norwich and 10 miles from Great Yarmouth. There is a big variety of cuisine in Lowestoft, and something for everyone can be found.
Some of things to think about when re-establishing oneself in the modern economy are:
- Does the new place offer good value for money?
- Can I work from home, and are their jobs in the area?
- Are there good schools and other amenities?
Lowestoft ticks a lot of boxes, especially if you are in the industries that are showing growth there.
Moving and Self-Storage
Self-storage has been shown to be of great value to people during this period of change.
This can be seen from the following instances where self-storage has contributed to people’s lives
- For small business owners who have stock that they need to store while finding a permanent solution in their new place of abode. They are afforded an easy and cheap storage solution, (which often becomes a permanent solution).
- Often people rent before they buy in a new town and in doing so may choose a furnished apartment. Self-storage offers you perfect way to keep you household possessions secure while you are looking for a new residence.
- When moving there is always furniture you can’t use of fit into the new place. Instead of selling everything, keep in self-storage until you have decided what to do.
Stop & Store is perfectly positioned in Lowestoft and offers excellent facilities for storage.
Our unit sizes vary from12 sq feet to 200 sq feet, giving you a wide range of options to choose from. Stop & Store has closed circuit TV monitors installed that ensure the safety of the contents of its storage units. You are the only key holder, so only you have access to your unit.
This access is 24/7 meaning you can come and go as you like, when you like.
Stop and Store Lowestoft offers a cost-effective storage solution for you when moving.
Contact us whenever you need self-storage.
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