London is a booming hive of business and over half of the capital’s jobs are created by small to medium businesses (SME’s), including micro-businesses. One of the largest costs for an SME is rent.
Over the last decade, thousands of workspaces have sprung up in and around the capital. These spaces, including incubators, accelerators, co-working spaces and artist’s and maker studios, offer a flexible and cost-effective alternative for SME’s. In order for these spaces to continue to support the flourishing and growing SME community, they must be able to manage their own costs.
Research has shown that there is a lack of awareness amongst workspace providers on business rates. Specifically, how to apply for business rate relief.
To bridge this knowledge gap, a new initiative is being launched by the London Growth Hub (www.growthhub.london). Free, short interactive workshop and networking sessions which will enable workspace providers (specifically owners and managers) to improve their understanding of:
· Business rates and how they are calculated
· Business rate relief and the eligibility criteria
· Best practice when applying for business rate relief
The workshops offer a fantastic opportunity for workspace providers to meet with local authorities to discuss how they can work together to simplify the process of applying for business rate relief. They are scheduled to take place across London.
For further information on the workshops and/or to register your interest in attending, please contact:
London Business Partnership Limited at firstname.lastname@example.org or telephone: 0208 866 6245
For more general information please go to London Growth Hub (www.growthhub.london)
The programme is being delivered by London Business Partnership Limited on behalf of the LGH.
Simon Pitkeathley, LEAP Champion for Small Business & CEO of Euston Town and Camden Business Improvement Districts, said: I am acutely aware of the burden business rates can have in the small business community of London, which is why this training is incredibly welcome. Additionally, in my role at Camden Collective, I hear the same issues raised by many of the small businesses that are just starting up.
It will give new and established small businesses more clarity about what they can expect, the questions they should be asking, and the type of relief they will be provided. I would strongly urge workspace providers to take up this opportunity”
Rajesh Agrawal, Deputy Mayor for Business, said: “I encourage workspace providers to take up this training opportunity, so they can fully understand what business rates relief they could receive and pass down to their occupants.”
Notes:The London Economic Action Partnership (LEAP) is the local enterprise partnership for London. The LEAP brings entrepreneurs and business together with the Mayoralty and London Councils to identify strategic actions to support and lead economic growth and job creation in the capital. More information on the LEAP https://lep.london/