Business rate reduction for small shops

Latest business news from the Suffolk Free Press, suffolkfreepress.co.uk, @sfpsudbury on Twitter
Latest business news from the Suffolk Free Press, suffolkfreepress.co.uk, @sfpsudbury on Twitter
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Babergh District Council has signed up to the Shared Revenue Partnership scheme, which allows small retail business to benefit from a cut on the rates they pay.

The scheme provides relief of up to £1,000 to all qualifying businesses with a rateable value of £50,000 or less in each of the years 2014-15 and 2015-16.

Derrick Haley, chairman of the Shared Revenue Partnership, said: “The aim of the business rates retail relief is to support local businesses by providing rate relief to help them thrive and compete to the changing way in which consumers shop and to support this type of retailer in the current economic climate.”

Simon Barrett, Babergh’s lead member for economic development and planning, said officers from Babergh had been contacting retailers about the scheme.

“It’s a serious amount of money for a lot of them,” he said.

“If you don’t apply, you don’t get it, so we might as well let as many people as possible know about it.”

Ian Berry, who runs Kestrel bookshop in Friars Street, Sudbury, has repeatedly called for business rates to be reduced for town centre stores, saying out-of-town businesses and supermarkets benefit from much lower rates.

For more information or to apply for the reduction, go to the Babergh website at www.babergh.gov.uk.