Locate East Sussex welcomes business rates reduction
The county's business support service has welcomed the recent Budget's reduction in business rates as positive news for East Sussex businesses.
Philip Johnson, Director of Locate East Sussex, said: “In a period of uncertainty, it is positive that the Budget promoted continued growth, particularly for SME businesses. Companies have been concerned about the increasing burden they are facing and it’s good to see businesses are being backed to grow the economy out of the deficit.
“Businesses throughout East Sussex will welcome the permanent reforms to business rates – which will take more small firms out of the regime. Changing the uprating mechanism from RPI to CPI is also something which businesses have been calling for. Companies of all types will also be encouraged by the greater clarity and simplification of the Government’s energy policy.
“For overseas firms looking to invest, the reduction in Corporation Tax rate sends out a strong signal that the UK is open for international business investment.”
The budget, delivered on March 16, also included increasing the 40 per cent tax threshold from £42,385 to £45,000 in April 2017, while the tax-free personal allowance is to rise to £11,500 in April 2017.
Locate East Sussex provides unbiased guidance and advice to businesses that are looking to expand as well as start–up companies seeking their first commercial premises. The team, based in St Leonards, helps with location decisions and access to funding to accelerate growth, as well as providing valuable connections to local planning and economic development teams.
The service, which is funded by the county, district and borough councils of East Sussex, recently moved from Summerfields Business Centre in Bohemia Road to a better connected location on the eighth floor of Ocean House in London Road.
Locate East Sussex is a is a headline partner for Bexhill’s Jobs & Apprenticeship Fair at the De La Warr Pavilion on Friday, April 29, from 10am to 3pm.
For more information about Locate East Sussex contact the team on 01424 205085, visit www.locateeastsussex.org.uk or find them on Facebook or Twitter.