The Cross-Party Group on Small Shops has called on the Government to focus on reforming the business rates system so that it encourages retailers to invest and improve their businesses during a meeting in the National Assembly for Wales today (June 5th).
The meeting was attended by AMs, Welsh Government officials and independent retailers from across Wales, and heard from Rebecca Evans AM – Minister for Finance and Trefnydd on what the Welsh Government is doing to help small businesses with their rates bills.
Minister for Finance Rebecca Evans said: “Small shops make an invaluable contribution to the Welsh economy and communities, providing employment and offering a genuine alternative to what can be offered by larger businesses and national chains. The Welsh Government is committed to supporting small businesses, providing over £210 million of rate relief this year, and I am committed to working with the sector as we develop our approach to local taxation”
Cross Party Group chair Janet Finch-Saunders AM said: “Business rates are the biggest fixed cost for many shops in Wales, especially those operating in local high streets providing essential services. While measures taken by the Welsh Government to reduce the impact of rising business rates bills have been welcome, we need to ensure that the system allows retailers to grow in the long term. As we set out in the Supporting Entrepreneurship Inquiry last year, a business rates system that incentivises investment rather than punishing it is crucial to the survival and success of thousands of Welsh shops.”
ACS chief executive James Lowman said: “Creating an environment where retailers feel confident to invest is essential for convenience stores who are keen to expand into new categories and offer a wider range of services to keep up with consumer demand. By reforming the business rates system so that investment is incentivised, the Welsh Government has the opportunity to support long term growth in the convenience sector in Wales.”
The Supporting Entrepreneurship Inquiry, published in July 2018 by the Cross Party Group on Small Shops, recommends new ways that the Welsh Government and local authorities can help entrepreneurs and small businesses to grow, including an ‘Entrepreneurs Test’ to ensure that new regulations do not have unforeseen negative impacts and reform of the business rates system to incentivise investment and not restrict business growth.
The Inquiry’s findings were the result of several evidence sessions in the Welsh Assembly, featuring industry experts, leading entrepreneurs and business organisations talking about the changes needed to help existing and future entrepreneurs succeed. The full Inquiry report is available here: http://bit.ly/supportingentrepreneurs
The Cross Party Group on Small Shops allows Assembly Members to discuss the policy agenda for small shops and highlight concerns to the Welsh Government and Assembly. ACS (the Association of Convenience Stores) provides Secretariat support for the group.
