We’ve talked about rate relief before, so hopefully there aren’t any SmallBusinessNewz readers in the UK who are leaving money on the table at this point. Just the same, a bill to make rate relief automatic seems to be picking up speed.
The Federation of Small Businesses announced in a press release, "The Early Day Motion was tabled by Peter Luff, Conservative MP for Mid Worcestershire, and has so far been signed . . . by over 100 MPs ahead of a debate on the Bill in the House of Commons on Friday 6 March."
Since business rates are supposed to be the third biggest cost the average company faces – right after salaries and rent – all sorts of money is at stake. What’s more, all sorts of people aren’t aware that so much money is at stake, since the FSB reports that around 400 million (or roughly $574 million) in relief goes unclaimed every year.
John Wright, the FSB’s national chairman, stated as a result, "It is great to see increased support for this Bill, which demonstrates a general consensus of the importance of this relief for small businesses during these tough times. . . . During the recession, this cash injection could save many small businesses from laying off staff or closing down completely."
It looks like there’s only about a week left, then, until a big issue finally makes it onto a huge stage.