More than 650 businesses in retail, leisure and hospitality sectors in Powys have had their business rates bills reduced following the use of the Business Rates Retail, Leisure and Hospitality Rates Relief scheme.
Administered by Powys County Council, this scheme has enabled over 660 businesses to receive 75% relief, which has altogether reduced their business rate bills by £3.4 million.
The scheme which supports businesses in their recovery from the pandemic and high inflation rates, also offers an eligible discount of 75% on the business rates bill for the property.
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The council has urged eligible businesses to apply for the rate relief for this financial year while the deadline for the scheme is March 31st, 2024.
Cllr David Thomas, Cabinet Member for Finance and Corporate Transformation, said:
"We estimate that 900 businesses in Powys may be entitled to this 75% rate relief so I'm delighted that over two thirds of businesses have seen their business rate bill reduced after applying for the rate relief.
"It continues to be a real difficult time for those businesses in the retail, leisure and hospitality sector with the continuing challenging economic times they face while trying to recover from the effects of the pandemic.
"This scheme does support businesses in these sectors so I would urge those who haven't applied to do so as soon as possible."
Powys County Council has funding of up to £4.9 million as a grant from the Welsh Government to enhance the scheme. To get more information and apply, visit Business Rates: Retail, Leisure and Hospitality Rates Relief 2023 / 2024 online.
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