Stuart McMillan MSP has welcomed the rise in the number of Inverclyde businesses which have benefited from the Small Business Bonus Scheme.
This scheme provides support for small businesses who can earn up to 100% relief on their business rates (i.e. no rates would be payable). The scheme provides the following relief:
Rateable Value of Property Rate Relief
Up to £10,000 100%
£10,001 to £12,000 50%
£12,001 to £18,000 25%
If you have more than one business property, with a combined rateable value of between £18,001 and £35,000, you will get 25% relief on each individual property with a rateable value of under £18,000.
Stuart McMillan MSP said:
“The SBBS was introduced by the SNP Scottish Government in 2008/09 and 604 Inverclyde businesses received support. The latest figures show that 1,041 businesses in Inverclyde now receive support from SBBS – an increase of over 72%.
“I would encourage anyone running a small business in Inverclyde to make sure that they apply for the Small Business Bonus Scheme.
Latest statistics show the number of small businesses across Scotland benefiting from reduced or removed rates through SBBS has reached a record high of 99,559: http://news.scotland.gov.uk/News/Small-Businesses-Boost-1eca.aspx