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The new budget plan is catered to support independent retailers, what does this mean?

3 Nov 2018

With the new budget plan being released at the end of October, read all about it and more here

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75% of retail transactions paid on card

13 Sep 2018

According to latest BRC Payments Survey
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Third of small businesses not driven by profit

11 Sep 2018

According to new report by peak b

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Lib Dems call for new "commercial landowner levy" to replace business rates

21 Aug 2018

The new proposal would see businesses in 92% of local authorities paying less

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Chancellor considering "Amazon tax" for online retailers

13 Aug 2018

Creating a more level playing field for bricks and mortar retailers

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Small businesses feel penalised by "intensive" HMRC investigations

8 Aug 2018

SMEs unhappy with nature of HMRC investigations
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IRC confirms Westminster for Best Small Shops competition reception

2 Aug 2018

Shortlisted retailers will be invited to the Houses of Parliament
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Protecting your business from credit card fraud

24 Jul 2018

Understanding how to prevent fraudulent card charges
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The new budget plan is catered to support independent retailers, what does this mean?

Posted on in Cycles News, Political News

The NFRN supports the reductions in business rates and the renewed support to high streets. The measures the government is putting into place indicate the magnitude of the concerns around independent retailers and their support towards smaller businesses. They are taking the steps to ease the business rates that place a burden on independent retailers.

Mike Cherry, The Federation of Small Businesses national chair said:

“For far too long they have come up against an outdated and unfair rates system and it’s clear that change is needed."

Independent retailers are going to see a third of their business rates cut for two years, which will save retailers £900 million. Local high streets will benefit from the allocated £675 million for the improvement to transport links, re-development of empty shops as homes and offices and the restoration of historic properties. This funding sits within a wider £1.5 billion to support the UK’s high streets.

 

Retailers are stuck in limbo due to the introduction of technology as an everyday feature of our lives and the changes this has brought to how people shop.

As the times are changing more and more and we are moving into a world where technology is a driving force the entire business rates system needs to be reformed within the marketspace that we currently sit within.

Click here to read more around the changes to budge.

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