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