Rates scheme brings £13m relief to firms

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SMALL businesses in the Capital have made a record amount of savings through a Scottish Government rates relief scheme, new figures have revealed.

Almost £13 million was saved under the Small Business Bonus Scheme in 2011/12, an increase of almost £1m on the previous financial year. In total, £41m in rates relief has been granted in Edinburgh since the initiative launched in 2008. It offers small businesses the chance to save up to £4260 per year, depending on their rateable value.

Gordon MacDonald, SNP MSP for Edinburgh Pentlands, said: “Anyone speaking to small businesses will know what a fragile environment they operate in. Just this week we have seen that the UK has technically re-entered recession.

“Although we don’t know yet if this is the case in Scotland, we still must do all we can to support local economies.”