Applications Now Open For The Welsh Enterprise Zone Business Rates Scheme

A targeted round of the Enterprise Zone Business Rates Scheme is now available to businesses within the eight Welsh Enterprise Zones which could deliver significant reductions to their annual business rates payments for 2016-17. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

The scheme focuses on small and medium sized enterprises that are demonstrating business growth, new starts or businesses that are increasing the size of their full time workforce. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Consideration will also be given to other business activity related to sectors, increased productivity and innovation/R&D. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Applications for the 2016/17 financial year can be made until Friday, 31st March 2017. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Economy Secretary Ken Skates said: “ This latest round of the Enterprise Zone Rates Scheme has the potential to make a real difference to businesses, helping to significantly cut their rates bills which in turn can improve cash flow and enable companies to make investments in their growing businesses. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

“We first launched the scheme in 2012 and between 2012 -2016 around £9million has been offered to more than 200 eligible businesses located in seven of our Enterprise Zones, with the offer extended to Port Talbot Waterfront Enterprise Zone following its designation last year.” ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​