Member Article

Business rates breaks to boost Stockport economy

Companies in Stockport will be offered discounts on business rates when they improve their property, as part of an initiative to boost the borough’s high streets.

From Monday 31 March 2014, Stockport Council will be offering the new ‘Commercial Properties Improvements Scheme’, which gives businesses, agents and landlords the opportunity to apply for business rate relief to offset the cost of improvement work on their premises.

The scheme will be available for units located in the town centre and across the borough in district and local centres. Businesses will be able to apply for up to 50% of the cost of improvement works up to a maximum of £2,000, to be offset with business rate relief to the equivalent value.

Councillor Iain Roberts, Executive Member for Economic Development and Regeneration at Stockport Council, said: “We understand the challenges many businesses face in improving their properties and we want to help.

“This scheme will not only help local businesses enhance the appearance of their premises and the high street as a whole, but also improve their value and ‘let-ability’.

“It will be particularly beneficial for businesses who occupy premises which are too large to benefit from small business rate relief or have multiple properties.

“I would encourage as many businesses, agents and landlords to apply, so we can work together to invest in the future of Stockport’s high streets.”

‘Investing in Stockport’ is the council’s programme of reform and growth, developed with the aim to regenerate the economy, create jobs and develop strong communities.

This was posted in Bdaily's Members' News section by Simon Malia .