Published: Friday, 14th July 2017

Local small businesses that qualify will receive a new and lower bill.

The rates relief scheme is intended to give some financial support to small businesses that have been affected by the recent rise in business rates earlier in the year.

Local Discretionary Rate Relief Scheme

Approved at the Council's Cabinet meeting on 12 July 2017, the Local Discretionary Rate Relief Scheme will see qualifying local small businesses receive relief and a new, lower bill issued. Businesses will be advised that the relief applies to the current financial year only.

'More businesses can receive help'

Councillor Denise Hyland, Leader of the Royal Borough of Greenwich, said: "We have been engaging with local traders and understand the financial pressures and implications that the earlier rates increase had on their businesses. We have already offered extended repayment terms to some traders who said that they were experiencing difficulty meeting the rates and I am pleased that this new relief scheme means that more small businesses can receive help."

'Support them in any way we can'

Councillor Sizwe James, Cabinet Member for Transport, Economy and Smart Cities, said: "The Royal Borough has some amazing, diverse and unique businesses that all play their part in helping our local economy and employ many local people, and we need to continue to support them in any way that we can."

A revised scheme will be devised for the following financial year, 2018 to 19.