Small businesses in Gosport to get help with rates
SMALL businesses struggling with increases to their rates will get a helping hand.
Gosport Borough Council has increased the help available to more than 100 small businesses, following changes to policy made at a council meeting.
The changes will ensure the council can give businesses the maximum amount of financial help with their rates bills over the next four years.
They can now get help when their rate increase is above five per cent of last year’s bill, rather than 10 per cent.
And they can now get 65 per cent of their rate increase discounted, rather than a maximum of 55 per cent. Previously, the vast majority of businesses only got a 45 per cent discount.
Councillor Mark Hook, council leader and chairman of the policy and organisation board which made the decision, said: ‘Many small businesses have found it hard to deal with the increases in business rates resulting from the national revaluation.
‘We wanted to maximise the relief available to businesses and help them thrive, which then boosts local economy.’