Hammersmith & Fulham Council has secured £4m to help local businesses affected by the government's increase in business rates.
As many as 2,100 local businesses, most of them small and medium enterprises, could receive Discretionary Business Rates Relief to cushion the blow of the latest increases.
“We collect business rates for the government, but we do not set them,” said Cllr Andrew Jones, H&F Cabinet Member for Economic Development and Regeneration.
“The council has secured £4m to fund rebates for local businesses already struggling in a tough economic climate.”
The council will shortly be writing to the 2,100 local businesses that could benefit from this financial boost, asking them to set out their claim for rates relief.
The biggest beneficiaries will be smaller businesses, with major national chains excluded from the borough's rate relief scheme.
“We are positive about local businesses, and we want to do all we can to make this borough attractive to both start-ups and established enterprises,” said Cllr Jones.
“I appreciate this has been a time of uncertainty, following the government increase in business rates, but the rebate we have secured should be seen as a great piece of news for businesses in the borough.”
Read more about the H&F Discretionary Business Rates Relief Scheme (pdf).
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