Council to provide retail relief to help the high street

Shops, pubs, restaurants and cafes in Plymouth are amongst those businesses in the retail sector set to receive bigger business rates discounts.

In a bid to support smaller retail businesses Plymouth City Council has announced they will be offering a £1,000 rates discount to those with a rateable value of less than £50,000.

Over 860 businesses will qualify for this discount which will be applied in April 2014 for the 2014/15 financial year.

Cabinet Member for Finance, Councillor Mark Lowry said: “We have seen over the past few years a change in the way people see and use the high street. It is extremely challenging for the smaller businesses trying to compete with the larger chains and this support will help a number of these businesses. This £1,000 can be put aside and used in other ways to help them remain competitive within the marketplace.”

Doug Fletcher, Chairman Plymouth City Centre Company added: "We are extremely delighted and welcome this announcement. Businesses are still hard pressed in these economic challenging times and a number of small businesses are experiencing financial hardship.

“This £1,000 discount on business rates could be what determines whether some small businesses survive these High Street challenges. Shoppers love unique, attractive and independent small shops and Plymouth City Centre’s distinctiveness depends on these small businesses.”

Businesses that have received relief in excess of £165,000 in the last three years will not be eligible for this support.

Central government will reimburse local authorities that use their discretionary relief powers.