New help from Harrow Council for traders on business rates
Published 30th September 08
SMALL businesses struggling to pay their rates during the credit crunch are being offered a fresh package of help by Harrow Council, including relief on payments.
The authority believes that approximately three quarters of the borough's 3,500 small traders could be eligible for discounts under the small business rate relief scheme.
Harrow Council has also announced it is able to spread business rate payments over 12 months rather than the standard 10-month term for traders facing hardship.*
Around 3,500 of the 5,000 companies in Harrow who pay business rates are potentially eligible for rate relief as small traders*.
However, only around 900 companies have actually signed up to the scheme, launched in 2005. That means they could be missing out on thousands of pounds in relief.
Harrow Council leader David Ashton said: "Harrow has long had a culture of small entrepreneurs and we know many are struggling.
"We hope that help with discounts, either through the relief scheme or by staging repayments, could buy time for traders. Our message is - please come and talk to us early if you are finding it hard to keep going."
Harrow in Business (HIB), the borough's independent help group for companies, is meanwhile offering to go over the books of traders in difficulty and advise them on surviving the downturn.
HIB has a team of 22 advisers including financial experts who are able to look over how companies are trading and plot a course ahead.
HIB chief executive Allen Pluck said: "Difficulty with business rates is lmost always part of a wider problem within a company, for example general cash flow problems.
"When you are just trying to keep a business going we know it can be difficult to see a way ahead. We have advisers on hand who can do just that."
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