Boost for businesses with 75% rate discounts

BRIDGEND council’s cabinet has agreed to adopt the Welsh Government’s Retail, Leisure and Hospitality Rates Relief Scheme which will offer increased support to eligible businesses for the next financial year.

The scheme is expected to benefit around 940 businesses in the county borough and will assist with the continued recovery from the pandemic as well as helping to tackle the ongoing economic challenges.

Eligible occupied businesses will be offered a discount of 75% on the business rates bill for each property.

The total amount of relief available is £110,000 across all properties occupied by the same business throughout

Wales.

The business must be in the retail, leisure, hospitality or tourism sectors, for example shops, pubs and restaurants, gyms, performance venues and hotels.

Businesses that aren’t eligible include casinos, kennels and catteries, day nurseries and medical and financial services.

The rate relief scheme will be available for the period 1 April 2023 until 31 March 2024. Businesses who meet the eligibility criteria must apply for this rate relief online via the BCBC website after 1 April 2023.

Cllr Hywel Williams, Cabinet Member for Resources, said: “I’m delighted that Cabinet have adopted this new rate relief scheme which will help support businesses in the retail, leisure and hospitality sectors.

“I would urge those businesses to apply for this rate relief when it opens next month.

“It is a real difficult time for businesses in the retail, leisure and hospitality sector that currently face challenging economic times at the same time as trying to recover from the effects of the pandemic.

Further information on the scheme, including eligibility criteria and details about how to apply can be found on the Welsh Government website at businesswales.gov.wales