Small firms welcome measures announced by the ChancellorDec 06, 2013
Locally the Federation of Small Businesses is particularly pleased with the Chancellor’s move to cut the scheduled increase in business rates next April from 3.2% to 2%.
They also welcome the announcement that pubs, restaurants and small shops will receive a £1,000 discount on their rates for the next two years.
Businesses that move into vacant shops on Britain’s struggling high streets will, in addition, enjoy a 50% discount on their rates for 18 months, while rates relief for small businesses will be extended for another year.
FSB Bedfordshire regional chairman Charles Smith said: “Action on business rates was the top priority for our members and the Chancellor has addressed some of their concerns in the Autumn Statement.
“Too many businesses suffer from yearly price rises so capping business rates increases is a welcome measure. With around 300,000 firms relying on 100% rates relief, extending the doubling of small business rates relief will be welcomed by many.
“Relaxing business rates for those firms that want to expand and incentivising new businesses into empty properties on the high street will boost retail and town centres especially in some of the market towns in the region, such as Dunstable.
“Retailers on struggling high streets will be heartened by the additional £1,000 relief.”