Media release - issued 13 Feb 2019

Rushmoor businesses to benefit from new discount scheme

More than 300 High Street businesses in Aldershot and Farnborough are set to benefit from a new discount policy that will see business rates cut by a third in a new scheme set up by Rushmoor Borough Council.

The new policy, which will benefit 313 businesses in Rushmoor, was approved by the council's Cabinet on Tuesday 5 February, and represents a saving to business of over £805,000.

The move follows an announcement in the Chancellor's Autumn Statement last October, offering financial support to high street businesses facing the challenge of online shopping.

Under the new discount scheme retail properties with a rateable value below £51,000 will receive a one third discount on their annual business rates bill for the next two financial years, 2019/20 and 2020/21.

This will be at no cost to local council taxpayers, as implementation costs will be met by a grant from the Government.

Businesses set to benefit in Aldershot and Farnborough will mainly be smaller shops, restaurants and cafes.

Councillor Gareth Lyon, Rushmoor Borough Council's Cabinet member for Corporate and Democratic Services, said: "This discount scheme will benefit a substantial number of smaller High Street businesses in Rushmoor in what is currently a challenging retail sector, with online shopping making life difficult for retailers. This follows on from the Business Rates Growth Incentive Policy, which we introduced last year, which gives discretionary rate relief to help businesses with high potential for growth. These schemes are part of our ongoing support for business in the borough.

"We're pleased the Government recognises smaller businesses need a helping hand while they adapt to these new challenges and this gives them some important breathing space."

Any businesses who think they qualify for the discount are advised to contact the business rates team using the contact details on this page.

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