Figures uncovered by the Telegraph have shown that potential shop owners could pay up to £46,000 to open a store in Scunthorpe town centre.

Following the closure of stores such as Currys.digital and TJ Hughes in Scunthorpe town centre, as well as a number of smaller stores, the Telegraph launched an investigation into the costs of setting up a shop.

And a look at the rental prices and business rates of current vacant stores in the region makes it clear that financing a store is very difficult.

In North Lincolnshire, there are 36 vacant shops that are currently available to buy or lease.

Research carried out by the Telegraph has shown that at a cost of £4,600 a year to rent, the lowest current rent in North Lincolnshire is on Mary Street in Scunthorpe.

A large property on Scunthorpe High Street would cost someone £35,000 per year for rental costs and £11,041.50 in business rates.

A small shop on Scunthorpe’s High Street is £25,500 per year to rent and costs £12,015.75 in business rates. A far bigger store such as TJ Hughes would cost £270,000 a year to rent and £123,405 in business rates.

And traders who have recently set up a store in North Lincolnshire say the costs for them are difficult to meet.

Karol Tyczynski, 20, started Champion Supplements in November with his father, Jon Tyczynski and brother Daniel.

Their business, on Dunstall Street, Scunthorpe, is aimed at catering for the growing number of bodybuilders in the region.

Karol said: “The finances needed have been crippling.

“It has cost £25,000 to set up and trade was very quiet when we first started.

“But things seem to be getting better now and we are starting to make a profit.”

The Tyczynski family are currently paying £320 a month in rent for the first six months and then will pay £480 from then onwards.

They say they have to pay £250 a month in bills and £25 a month to the council for things such as bin collections. Karol says such costs make it hard to raise a profit.

And he is far from alone.

Peter Hewes, the joint owner of new photograph store Know Media on Mary Street, said setting up shop in Scunthorpe is both financially rewarding and exhausting.

He said: “The satisfaction of taking an empty building and transforming it into the workspace you always imagined meant all the money needed was worth it.”

Peter set up the store with two other colleagues – Luke Drewery and John Horsley.

He said: “It was not financially easy to set up the store.

“We realised that no matter how much money you have saved up, or how meticulous your plan is, something always crops up, building work gets delayed, funds run out faster than expected, and juggling these issues whilst trying to always be ready and willing for clients is a very tough and tiring situation.”

Peter said they were very lucky to qualify for the council’s small business scheme that means they do not have to pay any business rates until at least September.

He said: “We don’t expect our money back straight away. Like any business, it takes time to grow and pay for itself before it can pay you.

“We found initially financing the store a rough road but hopefully now we will start seeing the rewards.”

Figures obtained by the Telegraph show that even renting a small shop on Crowle’s High Street would cost £5,000 a year and £1,580.45 in business rates.

A medium-sized property on Wrawby Street, Brigg would cost £12,000 a year in rent as well as £2,078.40 in business rates.

A shop on Ashby High Street would cost an owner £12,000 per year in rent and £3,723.60 in business rates.

And it is not just new businesses that are under pressure – as well-established traders are also suffering with the cost of financing a business in Scunthorpe town centre.

Ian Crampton, director of Direct Carpets on the High Street, said the business rates he has to pay are “sky high”.

He said: “I can cover the rental costs of the property as it is a reasonable rate agreed by a private landlord.

“However, the business rates I have to pay are sky high and the council should lower these rates in order to save the High Street.

“The council needs to do a lot more, reducing business rates for smaller companies to help keep Scunthorpe alive.”

Ian said financing a business is a struggle in this economic climate.

He said: “I have been trading here since 1974 and slowly things have got worse.

“I did look into opening a store in the Parishes shopping centre but the rates and rental prices there are in my opinion obscene.”

Another store having to deal with cost pressures is a bridal business that recently made a move from a store in Ashby to Mary Street in Scunthorpe.

Manager of The Bridal Boutique by Nettina, Tina Davies, said the rental rates have increase now that they have moved, but remain reasonable.

She said: “We have now been renting this property for a year and will soon have to pay our next bill.

“The rental price is reasonable and we easily can cover the cost. It’s been tough over the winter to pay all the bills, but things are picking up.”

A North Lincs Council spokesman said: “National non-domestic rates – Business rates – are set by the Department for Communities and Local Government, which produces a formula for councils to use when setting rates.”