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How do you solve a problem like Business Rates?

The answer is you defer the question until the Autumn Budget.

Whilst measures were announced to assist small businesses concerned with the wider business implications of COVID-19, including those in leisure and hospitality, by giving them a 12 month business rates holiday, the underlying question remains unanswered.

Large retailers who tuned in to the Budget hoping for the reform promised in the Conservative manifesto will have to wait until Autumn for an answer to the question. The question is, can businesses afford to wait until that date for outright reform?

Large retailers on the high street are likely to be subject to the same issues as the smaller businesses who have received holidays, granted they may be better placed to absorb the cost despite the potential business disruption from COVID-19. They may continue to struggle and the problems on the high street may not go away.

A good, vibrant high street is a combination of large retailers and small independents who benefit from the footfall of their larger counterparts and the current system.

FEATURING: Scott Bebbington
Scott joined Francis Clark Business Recovery as a trainee in 2012 having previously graduated from Cardiff University. He qualified as a Chartered Accountant in 2016.… read more
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