Montgomeryshire Welsh Liberal Democrat Assembly Member, Mick Bates has written to the First Minister to highlight the plight of small businesses in Wales and is calling for a review of the Small Business Rates Relief Scheme to help businesses survive through the recession.
Mick said:“Small businesses are an integral part of the local economy and I am deeply concerned that many are being forced to close due to the high threshold for small business rate relief.
“There are many small businesses which have a rateable value not far over the £9,000 threshold, they are facing the same problems, struggling to survive in this difficult economic climate, as those under the threshold and yet only receive a 50% rate relief.
“I believe that the Business Rates Revaluation should occur on a more frequent basis than a five yearly cycle to adapt to a dynamic market. An increase in the threshold for small businesses would provide an immense boost for the many small businesses across Wales struggling to survive.
“In the current economic climate I am urging the First Minister to re-evaluate the Small Business Rates Relief Scheme, which can play a key role in mitigating the anxiety faced in running a business at this difficult economic time. It is crucial that the Assembly Government takes all action possible to support small and medium businesses and give them a fighting chance to get through the recession.”
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