Businesses offered rates discount (From Croydon Guardian)

Croydon businesses offered rates discount

6:30am Tuesday 19th March 2013 in News By Hannah Williamson

Small and medium-sized businesses are being offered discounts of up to 65 percent in their business rates as part of a new initiative.

The Business Rate Relief Scheme, run by Croydon Council, will allow eligible firms to offset big fixed costs of running a shop or office.

The £1.1m scheme is being funded by the Mayor of London's £23m Regeneration Funding for Croydon.

Eligible businesses moving into the town centre, with an annual rateable value of £25,500 or above, stand to save tens of thousands of pounds for up to two years.

The initiative aims to encourage expanding businesses struggling to find affordable commercial spaces to relocate to the centre of Croydon.

Cabinet member for communities and economic development, Councillor Vidhi Mohan, said: "I would encourage businesses who believe they are eligible for a reduction in the rates to contact us.

"Not only will this scheme enable growing businesses to save thousands of pounds, but it will create jobs, fill empty commercial space and put money into the economic growth of the whole borough."

For more information email: economy@croydon.gov.uk.