Small businesses in Bolton — including shops, restaurants and public houses — are to have their business rates cut by £1,000 as part of a council bid to boost the town’s economy.
The Government-backed initiative will apply to all premises with a rateable value of £50,000 or less. In a parallel scheme, Bolton’s cabinet has also rubber stamped a plan to give a 50 per cent discount to any business that moves into a commercial or retail unit which has been empty for more than a year. It also intends to make all newly-built commercial properties exempt from empty property rates for up to 18 months.
“Anything that reduces costs for businesses in the current economic climate is welcome,” said Bolton Council chief executive Sean Harriss. “We hope it will stimulate the local economy.” Last October the authority announced it had set aside £1.5m as part of its “business support scheme” to encourage more firms to the Lancashire town. Companies are now able to apply for grants of £20,000-plus if they move into empty premises.
Grants are being targeted at greengrocers, restaurants and music shops in an attempt to lure them back to the town centre’s empty stores. But there will be no cash for takeaways, pound shops or bookmakers.
“After a number of years of high profile concern about the future of our town centres and high streets, it is good to see another major Greater Manchester town centre seriously considering its options for its own urban core,” commented Christian Spence, head of business intelligence at Greater Manchester Chamber of Commerce.
As managing director of Bolton-based Progressive Business Mentoring, which works with companies across the region, Dave Jones welcomed the rate discount scheme but feared it might not be enough to transform the fortunes of Bolton’s ailing high street.
Businesses are currently being unfairly bracketed at 2008 pre-recession rates, he said, and the government decision to postpone re-evaluating them until 2017 is damaging not just firms within Bolton but across the North-West. “This announcement about a discount in business rates is certainly welcome, but much more needs to be done and quickly,” Jones added.
It is a view shared by Alex McVey, manager of the town’s Odessa Cafe. “Anything helps,” he said. “One thousand pounds is not insignificant, but it needs to be more. Shops are closing for a reason, and for independent business like me it’s hard work.”
“All these initiatives are about taking a proactive approach and not just letting things happen to us,” explained council leader, Cliff Morris. “The town centre is very important and we want to make it as vibrant as we can. We want to encourage businesses to set up in Bolton, but it is just as important that they stay here and plan to stay for long term.” It was, added Morris, a question of building a “Bolton brand” with the hope of attracting family businesses and unique retailers “that will make people want to visit the town”.
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