14 September 2011

Government figures recognise Bexleys success in helping small businesses

New figures released by the government show that Bexley is one of the top performers in London in attracting rate relief for small businesses.

Business rates are the third biggest outgoing for many firms, after rent and staff costs.

In 2010-11 the rate relief was taken up by 1,568 Bexley businesses, representing 30% of business properties in the Borough. This compares well with other boroughs, where only around 7% of business properties received the relief.

The figure for the London Borough of Bexley has since increased to 2,000 business - 37% of the borough's business properties.

Leader of the Council Cllr Teresa O'Neill said: "These figures highlight the valuable work that we have been doing to sustain small businesses, which are the heart of our community. I welcome the Government moves to increase take up further by reducing bureaucracy and I hope that more of our businesses will contact us about taking up the financial help that's available."

The Government announced in October 2010 that it would double the Small Business Rate Relief discount until the end of September 2012. The Rate Relief is worth an average of £1,340 for each business and is available to firms with a rateable value below £25,000.

Where they are eligible, ratepayers whose businesses have a rateable values below £6,000 pay no rates at all for the period. Ratepayers with rateable values between £6,001 and £12,000 receive tapered relief from 100% to 0%.

If you think that you meet the criteria, but have not so far submitted a claim for small business rate relief, please download an application form from the Council's website or phone 020 8315 2174 for further advice.

Entitlement is not automatic and an application must be made using our application form. SBRR is not available to ratepayers who receive charitable or empty rate relief.