Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Small Business Bonus Scheme produces £1 billion in savings

Post Thumbnail

The number of small businesses in Scotland benefiting from the bonus scheme has risen by 55% since it was introduced by the Scottish Government eight years ago.

The increase in the Small Business Bonus Scheme (SBBS) from 64,179 in 2008-09 to 99,559 in 2015-16 was welcomed by SNP MSP Ivan McKee.

The member for Glasgow Provan said the near 100,000 small business who were benefiting enjoyed savings of around £1 billion in total.

He stated: “These are strong figures which demonstrate the huge success of the Small Business Bonus scheme.

“The SNP is absolutely committed to growing Scotland’s economy, ensuring our country is the most competitive place in the UK to do business and an attractive prospect for investors.”

The SBBS is for businesses with properties with a combined rateable value of £35,000 or less.

It is targeted at small businesses whose rates represent a high proportion of turnover.

Properties with a rateable value of up to £10,000 receive 100% relief ; £10,001 to £12,000 50%; £12,001 to £18,000 25%, and £18,001 to £35,000 25% on each individual property with a rateable value of less than £18,000.

There are conditions relating to the amount of public sector funding received and eligibility for other non-discretionary business rate relief.

David Lonsdale, director of the Scottish Retail Consortium, said the SBBS was welcome recognition of the need to keep down costs, but around three-quarters of retail employment in Scotland is concentrated in businesses receiving no support through the SBBS.

He stated: “For these firms business rates have escalated year after year – and increased again in April – with little regard paid to trading or economic conditions.”

Another problem was the £60 million hike in the rates supplement on firms operating from medium and larger sized premises, which affected one in every eight commercial premises.

Mr Lonsdale said the upcoming review of rates to be led by Ken Barclay must deliver a reformed system which is modern, sustainable and competitive.

He added: “A fundamentally reformed rates system and substantially lower tax burden would increase retailers’ confidence about investing in new and refurbished shop premises, create jobs and help revive high streets and town centres.”

Already a subscriber? Sign in