WIREDGOV

The Enterprise Zone Business Rates Scheme is a discretionary grant scheme for small to medium sized enterprises to lower their operating costs by providing a grant to offset their Business Rates for up to two years.  

Minister for Economy, Edwina Hart is calling on all eligible businesses in the Enterprise Zones to bid for a share when the scheme opens for applications on 20 March.

“I’d encourage all small to medium sized businesses that are either located in an Enterprise Zone or looking to start a business in an Enterprise Zone to apply. This scheme is another Welsh Government policy to support businesses and promote economic growth and job creation in Wales,” she said.

“I established the scheme following the Business Rates Review that examined how we could use the business rates regime to encourage economic growth in Wales. It is another way that we are helping small businesses to expand.”

Since the scheme was launched 66  businesses have been approved for support totalling nearly £4.5m.

Applications for the current financial year can be made from 20 March until 3 June, with the maximum grant available to each successful applicant being £55,000 per annum or the business rates paid (whichever is the lowest).

The Enterprise Zone Business Rates Scheme which was launched in 2012 and will run until March 2016 for companies based in the Enterprise Zones. Priority will be given to new start ups and businesses increasing their workforce.

Businesses may qualify for up to 100% funding of business rates if they are:

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