Mayor appoints industry experts to ensure London markets flourish

• Mayor announces updated London Markets Board, a team of industry experts and experienced business leaders who will support London markets and help them to thrive 
• Sadiq makes it easier for traders to book market pitches by streamlining application process
• Sadiq visits the Blue Market in Bermondsey, which has gained a new lease of life, thanks to £2m from the Mayor’s Good Growth Fund (GGF)

The Mayor of London, Sadiq Khan, has today announced an updated group of experts that will help support markets across London to flourish as places of entrepreneurship and innovation.

The group of 19 business leaders, traders and entrepreneurs have all been appointed to the Mayor’s London Markets Board and will advise the Mayor on action to support and promote the capital’s wholesale, street and covered markets and help to deliver a London markets strategy.

The Mayor also today launched Openmarkets.london - a new website which will make it easier for young people and new traders to access pitches on markets right across London by streamlining the licence application process.

With more and more Londoners struggling as a result of the cost of living crisis, markets have never been more important in the capital.

These latest experts will build on the work of the Mayor’s first London Markets Board, which was set up in 2017 to help ensure that markets across London thrive.

The new board will devise a new action plan to support street markets to realise their full potential. Key priorities for the board include working with the sector to -

• Showcase and test new ideas
• Attract new traders and trades to the sector
• Explore circular economy practices being tested across London
• Explore tools and data that help markets to demonstrate their impact within local communities, economies and London

The Mayor announced the new Board members today as he visited the Blue Market, Bermondsey, which has been completely regenerated thanks to £2m of funding from his Good Growth Fund. The Blue Market has a long, rich history in the capital and this funding has built on The Blue Market’s identity as the ‘Larder of London’. While at the market, Sadiq met with local market traders and young people who have participated in the regeneration of the site.

The Mayor of London, Sadiq Khan said: “I’m delighted to appoint 19 experts to the London Markets Board. They will help ensure that markets like The Blue Market in Bermondsey can continue to thrive and serve the community in the best way possible.

“Markets in London play a crucial role in the capital. Not only do they enable people to buy goods and services from others in their community, they are also great hubs where people from all backgrounds and ages can socialise and connect.

“As the cost of living continues to rise I want to ensure that markets remain a key staple in the local community. The new members of the London Markets Board will help to build a better London for everyone – a safe, fairer, greener and more prosperous city for all Londoners.”

Markets are crucial to London’s economy, providing opportunities for new businesses to set up and grow, and routes into work for Londoners of all backgrounds. They also offer affordable options for Londoners, providing low-cost options for food, clothes and other goods, which is more important than ever in the ongoing cost-of-living crisis.

The Board will continue to support the sector to raise the profile and value of London’s markets as well as lobby for the resources and tools they need to remain a thriving and vital part of our city.

During the pandemic the Mayor has supported the recovery of street markets through programmes including his Good Growth Fund and High Streets for All scheme.

Helen Evans, co-chair of the London Markets Board said: “There has never been a more important time to support and raise the profile of markets in London and that is why I am delighted to co-chair the London Markets Board for its second time. I look forward to working with colleagues from across the sector to ensure that London's markets continue to bring vibrancy, opportunity and diversity to the capital's high streets. “

Cllr Kieron Williams, Leader of Southwark Council, said: “I’m delighted to welcome the Mayor of London to Bermondsey today to see the fantastic work the local community, businesses and council have been doing together to bring the buzz back to The Blue.

“Thanks to the Mayor’s Good Growth Fund we’ve been able to invest £2m into renewing the heart of Bermondsey’s historic town centre. Providing a real boost for local businesses.

“With the cost of living soaring, good value, vibrant street markets like this one have a vital role to play in making our borough and city affordable for all.”

Russell Dryden, local resident and market trader said: “The completion of the ‘Made in Bermondsey’ community led regeneration project represents a turning point in the area’s history and offers a once in a generation opportunity to empower and strengthen the community.

“We now have a solid foundation to build a more positive perception of the area and drive forward the rebirth of the ‘Blue’ to fulfil the projects long term vision for a modern, cosmopolitan, multicultural, community with a thriving business economy and a vibrant market at its heart.”