The council is offering targeted funding to help assist businesses that have had big Business Rate increases in 2017 following the revaluation of all business properties in England early this year.
This discretionary scheme is being funded by the Government to allow qualifying businesses to also receive relief in 2018, 2019 and 2020 but on a reducing scale each year and subject to funding limits.
In 2017, all our small businesses who have seen increased liabilities had their rates limited to a rise of five per cent (plus inflation) but other potentially qualifying ratepayers with medium sized properties, faced increases of up to 12.5 per cent (plus inflation) and potentially qualifying ratepayers with large properties faced increases of up to 42 per cent (plus inflation).
To help with the increased costs, funding for businesses with medium sized properties is available to help limit that increase to around 7.5 per cent (plus inflation) while businesses with large properties may be offered relief which seeks to limit that increase to around 17.5 per cent (plus inflation).
At the end of October all qualifying ratepayer were written to and currently only 23 per cent of available funding has been allocated. The council are keen to make sure that as many eligible businesses as possible receive funding as the Government has announced that it will claw back any unused funds if they have not been claimed by March 2018.
Funding will vary from business to business and in order to qualify, they must also provide a statement that they would not breach state aid limits by receiving the relief on offer.
Leader of Crawley Borough Council, Councillor Peter Lamb, said: “Businesses provide vital employment for local residents and small businesses in particular often form a central part of local communities. We know that local businesses are coming under increasing pressure as the internet provides growing international competition and we hope that this scheme offers some support companies to companies as they transform themselves for the global age.
“I would urge all businesses who have not responded to the offer letters to reply without delay and before it is too late.”
For more information about the scheme, visit www.crawley.gov.uk/pw/Business/Business_Rates/index.htm