Business rates relief aimed at increasing growth

Members of Broadland District Council's Cabinet this morning agreed to proposals aimed at attracting new businesses to the area and helping existing businesses to grow.

The Non-Domestic Rate Business Growth Discount Scheme is a new form of business rate relief, intended in some cases to offer an incentive for new businesses looking to locate to Broadland and those wishing to expand - offering partial or full relief of the rates they pay for a temporary period of time. It is aimed at improving growth and productivity in the area and is a pro-active approach in the face of changes to the way business rates are administered in the future.

The new scheme would allow the Economic Development officers at the council to identify those businesses which could benefit from additional support and, working with their colleagues in finance, identify if they are eligible for the relief and how it would be delivered.

Cllr Stuart Clancy, Portfolio Holder for Economic Development at Broadland District Council, said: "This is fantastic news for businesses in Broadland and those thinking of locating here.
"This additional discount on business rates complements the existing offer we have for businesses, which includes training courses, supporting business growth, grants and free pre-application planning advice."

Last year, Broadland District Council helped 500 businesses with a discretionary relief where businesses had seen a rise in their rates due to revaluation of their premises.

The council also offers a Hardship Relief Scheme to assist businesses experiencing temporary financial difficulties.

Any businesses interested in finding out more about the schemes or whether they are eligible, can email business@broadland.gov.uk


29.06.2018
Courtesy of Broadland Council




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