Shopkeepers in West Port have been left counting the cost as they expect the area to be closed to traffic for up to two weeks, after the fourth floor of the former Post Office building collapsed on Monday morning.

Many of about 50 small businesses in the area have already lost hundreds of pounds.

Some are now planning to appeal to the council for rates relief on the grounds of hardship.

Residents and workers were evacuated immediately and only allowed to return the next day. But roads surrounding the building – West Port at its junction with Lady Lawson Street, Lauriston Street and High Riggs – are still closed for safety reasons.

Shopkeepers say there is hardly any passing trade, even though there is still access for pedestrians.

Helena Kennedy, who runs Ocean Jewellery in Lady Lawson Street, said: "It's been very difficult. We lost two days when we were closed and now there is hardly anyone coming in.

"There are about 50 small independent businesses in the area that are all going to be affected.

"There's not much point in opening. It's like a ghost town. It's so demoralising. It used to be such a busy thoroughfare. Now you just see the odd person."

She said they were trying to stay positive, and preparing to send an electronic newsletter round regular customers to say they are open for business as usual.

Bakers and sandwich shop staff are also trying to make the best of it, carrying heavy deliveries several hundred metres as vans can no longer park. One florist has resorted to making floral arrangements at home for weddings and other commitments.

Anna Nicholson, manager of vintage clothes shop Herman Brown in West Port, said small shops were particularly vulnerable to a short-term drop in trade.

She said: "We're all little independent shops that right now are struggling. We reopened on Wednesday, but it was my worst day ever. We made one sale, which was for pennies.

"Of course, our main priority is that no-one was injured, but I sometimes feel small shops are just sidelined. This sort of thing hits us very hard."

Lily Purdie, who runs the Nail Factory, said she was going to appeal to the council for a reduction in rates.

She said: "It's a bit of a nightmare. We've got clients who've booked but are not coming in, as they don't think we're open."

A council spokeswoman said the roads would be closed until the building could be completely demolished. She said: "We are working hard to reopen them as soon as we can safely."

She said councils could grant discretionary rates relief to businesses on the grounds of hardship. She said: "Hardship solely due to disruption for two to three weeks is not normally sufficient grounds for granting relief.

"However, if businesses felt they were in these circumstances, they could approach the council to discuss this further."