SNP announce proposals to help small businesses

The SNP today announced proposals for a new small business rate policy designed to reduce the burdens that can hold back small businesses.

The SNP aim to reduce the burden of business rates on the smallest of businesses so that they will be able to grow and develop into the medium sized businesses and large businesses of the future. The small and medium-sized enterprise (SME) sector has traditionally been important to the economy for various reasons; as a source of entrepreneurship and innovation, a driver of competition, local economic vibrancy and a mechanism for job creation.

Under the 'Small Business Bonus' scheme the SNP propose to abolish business rates completely for all businesses with a rateable value of £8,000 and below. Small businesses with a rateable value of between £8,001 and £10,000 will be entitled to a 50% business rate relief and businesses with a rateable value of between £10,001 and £15,000 will be entitled to a relief of 25%. Three out of four businesses in Falkirk District will be better off under the SNP's proposals. Large businesses will continue, of course, to benefit from the return of business rate parity with England.

Falkirk Council's Depute Convener of Economic Development, Councillor Angus MacDonald welcomed the policy announcement stating:-
"This is good news for small businesses the length and breadth of Falkirk District, from Banknock and Bonnybridge in the west to Bo'ness and Blackness in the east. The SNP is determined to support the small business sector which in turn will stimulate the wider economy. The Scottish Parliament's Local Government Committee recently concluded that small businesses currently face a disproportionate rates burden and this policy directly addresses that problem. The SNP is working hard to deliver a real boost to small businesses and our pro-enterprise policy to help small businesses will produce more successful, bigger businesses in the future".

For further information contact Councillor Angus MacDonald on 01324 506139.