Understanding Business Rates for Workspaces

02 June 2020

Tuesday 2 June, 10:45am (60-90mins)

Before the session - please complete the online registration form here.

Online webinar using Zoom - click here on the day to join.

London is home to over one million SMEs, including micro-businesses that account for 99.8% of businesses and nearly half the capital’s jobs. These SMEs contain much of London’s future innovation, enterprise and growth. For micro and small enterprises, the top three costs they face are rent, rates and staff.

There will be a number of workspace providers, in particular, incubators, accelerators, co working spaces, artist’s studios, and makerspaces who are now facing uncertain futures, financial difficulties and possible closure, as a result of COVID-19, which already had a significant impact on the workspace environment.

They need to make their spaces open and able to work for all Londoners. However, for workspaces to remain financially viable must be able to manage their costs.

This financial challenge remains as a result of:

  • accessing business rates relief
  • the impending 2021 commercial property revaluation exercise
  • short term and medium term impact of COVID19

Past research has shown that there continues to be a lack of understanding about:

  • Business rates: what are they and how are they calculated?
  • The eligibility for business rates relief and how to apply for it (as there is no consistent approach across all the local authorities).

Understanding Business Rates and Business Rates Relief schemes

This new initiative, supported by the Greater London Authority and the London Growth Hub, seeks to address this by:

  • Helping further bridge the knowledge gap in terms of workspace providers, across London, understanding of business rates and business rates reliefs
  • Highlighting the current COVID-19 schemes linked to business rates relief relevant to workspace providers
  • What the post COVID-19 environment could be like for workspace providers?

How will we do this?

London Business Partnership Limited in partnership with GeraldEve, industry expert, will be hosting this short webinar. You can also book 1:1 advice.

What is involved?

A short interactive presentation explaining about business rates and all the current business rates relief schemes, followed by a Q&A session

There will also be the opportunity to book a 1:1 advisory session with GeraldEve to discuss your own specific circumstances at a later date.

Additional Information:

If you have any further questions, please contact: info@londonbp.co.uk