OPINION: Business rates: do you feel lucky?

All eyes will be on the Budget on March 8 and the focus for many will be what chancellor Philip Hammond has to say on the matter of business rates.

The NFRN, ACS and several associations representing the small business sector have called for the Government to use this Budget to reduce the burden on those businesses; to help the sector fight back against tough trading conditions.

Rates are something every retailer we speak to cares about, regardless of whether they currently have to pay them or not.

When she took the matter to her MP, she was told she was “lucky” that her increase was less than a lot of other business in the area

If they are paying rates, they tell us how crippling they are, that they don’t know how they will be able to offset the increase, and what they might have to cut back on in order to pay for it – staff hours usually come out on top as the area where costs can be immediately shaved.

If they have had their rates reduced, or they benefit from rates relief, they’re happy – but well aware of how much they’ll be stung if the tables turn and relief is taken away.

One retailer I was speaking to at a parliamentary reception last week told me how her business, which is already under a lot of pressure from multiple supermarket competition, has received a fairly large rates rise.

When she took the matter to her MP, she was told she was “lucky” that her increase was less than a lot of other business in the area.

What retailers need right now is support from their MP and the promise of a fairer system from the Government – a promise that it can stick to.