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Colchester Borough Council supports 120 local businesses with Business Rates Relief - with more available

Date issued: 8 February 2018

Around 120 Colchester businesses facing large rises in their business rates have been awarded rate relief by Colchester Borough Council - with more available for other companies across the Borough.

This funding follows a successful initiative supporting Colchester pubs earlier this year. Business Rate Relief for pubs was successfully promoted and delivered by Colchester Borough Council during 2017, using Government funding to provide 60 pubs with a discount of up to £1,000 on their business rates bill.

Colchester Council has been given £298,000 of Government money to provide support to hard-pressed companies who are receiving higher bills following a national revaluation of the business rates last year.

Around half of this funding has already been distributed to over 120 businesses across the Borough. The remaining funding needs to be awarded to firms by the end of March, to prevent unallocated funds being returned to the Government. Local businesses have until Saturday 31 March to apply to the Council. If approved, the relief will be taken-directly off the firm's business rates bill for 2017/18.

Councillor Mark Cory, Portfolio Holder for Resources, said: "With this fund, we give companies affected by the Government's revaluation of the business rates additional support with their bills.

"I am proud of our track-record in continuously supporting small businesses in Colchester - highlighted by the take-up earlier this year of the funding support for our local pubs. This was more than pint-sized support, with 60 pubs benefiting from over £70,000 of relief funding administered by the Council so far.

"Colchester is ahead of the curve for new business startups. We want to make sure we support all small- and medium-size businesses, new or existing. We are a proactive Council that is contacting businesses to ensure they receive all the Business Rate Relief they can. As a consequence, more local jobs will be created and the local economy boosted.

"I want Colchester businesses to get the benefits of the scheme, rather than hand any unused funding back to the Government. So I would urge any businesses who think they may be eligible, to apply as soon as they can."

The decision to grant Discretionary Rate Relief rests with Colchester Borough Council. To view the criteria and to apply, visit