A bill aimed at helping small independent retailers survive has been welcomed by a business lobby group after it was introduced into the House of Lords this week.
The Retail Development Bill requires local authorities to establish support schemes for struggling ‘class one’ shop premises, which might otherwise be forced to close.
The bill would also involve a government review of the retail business rates applied to small shops. Focus would be put on the level of rates as a percentage of annual turnover compared to large and medium-sized premises.
It would also consider how business rates affect the profitability of small retail businesses and the costs and benefits of reducing their tax burden.
“Local authorities have a vested interest in promoting the growth of local retailers and should look on this review as a chance to make their communities better places in which to do business,” said the FPB’s policy representative, Matthew Goodman.
“More importantly, this is a fantastic opportunity for the government to lessen the impact that business rates have on small shops, both financially and administratively.”
The government would also establish an Office for Retail Planning (ORP) to be in charge of issues such as concerns over the retail planning process and encouraging competition.
The ORP would be responsible for maintaining the availability of different classes of retail premises across the UK.
© Crimson Business Ltd. 2008
