Business Rate Relief Scheme launched to help struggling organisations in Leeds

A new discretionary relief scheme has been launched in Leeds to provide extra funding to businesses eager to expand inclusive growth in the city amid increasing economic pressures.

Support will be aimed at social enterprises, businesses that are in their first three years of trading and organisations that have an agenda to help people in the community.

The scheme was announced as part of Leeds City Councils ambition to promote inclusivity within the city by 2030.

Successful applicants will receive up to £15k off their annual business rate bills, which will not only ease financial concerns, but provide business owners with the ability to invest in innovation, research, and development.  

Businesses that are chosen to be part of the programme will be required to host community-based activities or assist young people with improving their employability skills.

Funding this scheme will come from central government, with them paying 50% of the budget which will be capped at £1.75m per annum.

Priority will be given to businesses who occupy premises that have a rateable value between £15k and £51k.

Cllr Johnathan Pryor, Leeds City Council’s Executive Member for Economy, Culture and Education said: ‘The discretionary business rate scheme will allow us to support our local economy while helping us deliver value for the tax payer and local communities.

‘The scheme directly supports the council’s inclusive growth strategy, by supporting business in the creation and retention of quality jobs in the face of current economic pressures.

‘I would encourage all businesses across Leeds who feel they may be eligible for the scheme to apply as funds are limited.’

Photo by Gary Butterfield