News

SUDDEN INCREASE IN START UP BUSINESSES COULD BE DOWN TO NEW RATES RELIEF INCENTIVES - MARCH 2017

James Doble from specialist Commercial and Business Agents JD Commercial has reported a noticeable increase in the number of enquiries from start up businesses looking for premises, whether it is retail units, industrial units or offices.  He feels part of the reason for this could be the introduction of new business rates rules which came into effect a few days ago on the 1st April 2017.  James comments "that for many start up businesses, business rates can be hugely costly expense and add further pressures to any business in its infancy.  The new rules on business rates that have come into effect seem to have stimulated a number of entrepreneurs to seek premises for their businesses.  In the past couple months we have dealt with people starting up a variety of businesses including garage, mobile phone and media accessory retailer, window tinting, financial advisors, hairdressers and car valeter, to name a few, all of whom have been seeking and secured premises with a Rateable Value of £12,000 to make them eligible to receive 100% business rates relief.  Known as Small Business Relief it can make a huge difference to a businesses profitability and cash flow.  Between a Rateable Value of £12,001 and £15,000, small businesses are eligible for rates relief although this is on a sliding scale from 100% gradually down to 0%."  James goes on to say that "despite many people knowing about small business relief we speak to probably as many people who don't know about it so hopefully word will spread and the more people who know the less vacant shops, offices and industrial units there will be due to uptake being increased."  If you are seeking commercial premises for your business Agents JD Commercial can be contacted on 01237 424053 or via www.jd-commercial.co.uk where they have a wide range of business premises throughout North Devon.