Business rates ‘should be frozen to help firms’

The cost of business rates is a big issue for small firms at present.


Companies are facing an increase in this expense at a time when they are struggling to keep their heads above water.


Because of the current uncertain situation facing individuals, there is a need for some common sense in the market, as without this, many businesses might hit the wall.


One high-profile backer of the Retail Week and British Retail Consortium’s Fair Rates for Retail campaign is Theo Paphitis.


The Dragons’ Den star told Retail Week: “For too long, businesses have been making up for the inefficiencies of local authorities and councils.”


He added the power exists for rates to be altered, but it is just a case of whether or not this will happen.


I for one would like to see the government freeze business rates, as this would give firms the breathing space they need in the current economic climate.