Help for small Fenland businesses struggling after rate hike
More than 100 small businesses hit by a rates hike will be able to benefit from a funding scheme.
About £160,000 has been earmarked to help Fenland businesses that have suffered a 10 per cent plus increase in their business rates.
It is thought about 110 small businesses will benefit with savings ranging from £100 to £13,999 with most expected to save about £300.
The money will come through Fenland District Council’s discretionary rate relief fund for 2017/2018.
The Government has made £300 million available over four years to help councils support businesses that are facing the steepest increases in business rates bills since a national revaluation in March.
To be eligible for the scheme, business properties must have a rateable value of £200,000 or less, and the increase in rates for 2017/2018 must have been greater than 10 per cent compared with 2016/2017.
Councillor Chris Seaton, the council’s finance spokesman, said: “The rate relief funding is good news for Fenland as it will ensure small businesses get the most help with their rates.”