Businesses to benefit from rate relief fund

MORE than 500 businesses in Pembrokeshire are likely to benefit from a rate relief boost funded by Welsh Government.

County council officers estimate that 534 businesses with a rateable value between £6,000 and £50,000 could be eligible for up to £2,500 towards their retail property bills.

It follows a temporary extension of the High Street Rate Relief and Retail Rate Relief Scheme for 2019/20.

It aims to “provide targeted support for businesses affected
by the independent revaluation and by the growth of internet sites.”

Initial estimates in Ceredigion is that around 950 businesses will benefit.

A report to cabinet on Monday adds that there were not plans for “revised statutory provisions” but the grant aid would support many small to medium business in the county including shops, cafes and bars.

It will not be limited to high street areas but open to all eligible businesses, that will be identified and contacted by the council.

Businesses with a rateable value below £6,000 will receive Small Business Rate Relief.

Cabinet members are recommended to approve the plan at its meeting on Monday, April 8, 10am.