The business rate relief scheme which went live in early October is open to businesses or social enterprises for its first three years of operation. It is also available to any businesses that ‘serve a social or civic purpose’ in the local community.
The scheme has a total budget of £1.75 million, with the government funding half of it, and successful applicants will receive a £15,000 reduction in their annual business rates bills.
Leeds City Council’s executive member for economy, culture, and education, Councillor Jonathan Pryor, said, “The discretionary business rate relief scheme will allow us to support our local economy while helping us deliver value for the taxpayer and local communities, by supporting businesses, innovators and entrepreneurs whose products and services have a positive impact on life in Leeds.”
“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,” he further added.