Extend grants immediately to small businesses outside of SBRR

Small businesses in Serviced Offices are missing out because of a loophole in the Small Business Rates Relief scheme, meaning shared offices without a Business Rates account with their local authority do not receive a £10,000 cash grant.

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The amounts of money being missed out on are staggering, here are our figures for the regions:

  • Leeds – 3% of all small businesses in 108 serviced offices = £54m
  • Birmingham – 5% of all small businesses in 123 serviced offices = £61m
  • Manchester – 4% of all small businesses in 188 serviced offices = £94m
  • Bristol – 5% of all small businesses in 115 serviced offices = £57m
  • Nottingham – 5% of all small businesses in 80 serviced offices = £40m
  • Sheffield – 5% of all small businesses in 59 serviced offices = £30m
  • Milton Keynes – 5% of all small businesses in 37 serviced offices = £18m
  • Newcastle – 5% of all small businesses in 59 serviced offices = £30m
  • Liverpool – 6% of all small businesses in 70 serviced offices = £35m
  • Brighton – 5% of all small businesses in 36 serviced offices = £18m
  • Northampton – 5% of all small businesses in 37 serviced offices = £18.5m
  • Cardiff – 3% of all small businesses in 41 serviced offices = £20.5m
  • Oxford – 2% of all small businesses in 33 serviced offices = £16.5m
  • Cambridge – 3% of all small businesses in 42 serviced offices = £21m

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Posted by Jonathan Ratcliffe, Tuesday 21st April 2020

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