Growing Your Business
Up and running and ready to grow your business?
We’re here to help. This section covers everything you need to know to build your empire.
Small businesses desperate for more business rates reform
The Federation for Small Businesses (FSB) has stated that a radical reform of business rates is needed urgently to protect small businesses in a time of Brexit uncertainty.
Mike Cherry, National Chairman of the FSB, said that failure to reform business rates sufficiently could lead to a 'very bleak winter' for small businesses.
'The Chancellor needs to step up'
A falling pound and Brexit uncertainty has compounded the issues already faced by struggling small businesses. But for the FSB, business rates reform could make a meaningful difference.
It wants the so-called Retail Discount - which allows retailers with a property worth no more than £51,000 to claim a 33% discount on their rates bills - to be increased to 50%. It also wants the discount to become a permanent initiative and to be made available to small businesses in all sectors.
Furthermore, it wants Business Rates Relief - which is only available to companies with up to £12,000 of property - to be extended to businesses with property worth up to £30,000.
These demands have been addressed directly to Chancellor Sajid Javid, and it's hoped that November's Autumn Budget finally brings some better news for the UK's small business sector.