Blackpool announces business rates reduction

Blackpool is bidding to become a prime location for business growth and investment by reducing its business rates.

The cheaper rates, in addition to a thriving Enterprise Zone and a new £100m investment pot, will allow new and existing companies to make the most of the resort’s prime location and facilities, bringing more jobs and wealth to the local area.

Changes to rateable values for Blackpool businesses mean that companies could save thousands of pounds on their expenses by moving their operations to Blackpool. Retail stores and offices are set to benefit the most following the new revaluations by the Valuation Office Agency (VOA), which come into force on 1 April.

Some businesses will also be able to escape paying business rates whatsoever, as approximately 3,000 Blackpool companies with a rateable value of under £12,000 are exempt completely, with businesses valued between £12,000 and £15,000 also eligible for discounted rates.

The Enterprise Zone, which has created 400 jobs in its first nine months, has over 170,000 square foot of development under way in the next year, making it the ideal spot for new and existing businesses to set up.

The fund will allow local businesses to benefit from large infrastructure or job creating loans at competitive rates, with an earlier loan fund scheme already helping create almost 400 new jobs in the town.

He said: “The next five years of entrepreneurship promises to be extremely exciting for Blackpool – the incentives for businesses have never been better than they are right now.

“For thousands of Blackpool businesses, the revaluation of business rates means that they will have more spare money to spend on investing and growing their company. That could equate to thousands of pounds spent on hiring new workers, expanding their offices or investing in new machinery to take on extra work.

“Not only can the running costs in Blackpool be smaller, but the proximity to large economic centres like Manchester and Liverpool means businesses really can get both reduced overheads and increased trade.

Enjoyed this? Read more from Lancashire Business View

Latest news

1

Fulfilmentcrowd makes double senior hires Katie Shepherd L And Rachel Miller R

Fulfilmentcrowd makes double senior hires

19 Apr 2024

2

Forbes makes Manchester move Forbes Manchester

Forbes makes Manchester move

15 Apr 2024

3

Blackpool approves plans for pair of apartment complexes New South Promenade Apartments Visuals

Blackpool approves plans for pair of apartment complexes

12 Apr 2024

4

Distinguished engineer takes senior role at Lancaster University Rebecca Lingwood

Distinguished engineer takes senior role at Lancaster University

11 Apr 2024

5

International building supplies firm to open new plant in Preston New Kerakoll Group Premises Visuals

International building supplies firm to open new plant in Preston

11 Apr 2024

Hwc 2024 Email Signature 980x120
Background image for hub sign up block

LBV Hub

Reach 50,000 members of the Lancashire business community

Post your news
Post your events
Post your offers
Company profile
Social reach
Magazine coverage
Sign-up
Events
Health and Wellbeing Conference 2024
Hwc 2024 Social Media 1200px 1
Networking
23 Apr 2024

Health and Wellbeing Conference 2024

Crow Wood Hotel, Burnley , BB12 0RT

08:30 - 13:00

Help to Grow Management Course
HTG2.png.png
LBV Hub Seminars
15 Apr 2024 - 17 Jul 2024

Help to Grow Management Course

Preston Campus , Preston , PR1 2HE

09:30 - 14:00

St Catherine’s Corporate Skydive
Corporate SkyDive.jpg.jpg
LBV Hub Fundraisers
21 Apr 2024

St Catherine’s Corporate Skydive

Black Knights Parachute Centre, Lancaster, LA2 0YD

12:00 - 16:30

Business Networking in Chorley - BNI Endeavour
EVENT LISTING SIZING Endeavour.png.png
LBV Hub Networking
23 Apr 2024

Business Networking in Chorley - BNI Endeavour

Oak Royal, Bury Lane, Chorley, PR6 8SW

06:30 - 08:30

HR Complete Training Programme: Equality and Diversity
Picture1.png.png
LBV Hub Webinar
23 Apr 2024

HR Complete Training Programme: Equality and Diversity

Online (Zoom)

09:30 - 11:00

Business Networking in Blackburn - BNI Vista
EVENT LISTING SIZING Vista.png.png
LBV Hub Networking
23 Apr 2024

Business Networking in Blackburn - BNI Vista

Hampton by Hilton, 2 Frontier Ave, Blackburn, BB1 3AL

06:45 - 08:30

Emergency First Aid at Work
Chamber Logo1.png.png
LBV Hub Seminars
23 Apr 2024

Emergency First Aid at Work

FGH Training, 3rd Floor, Storey House, White Cross Business Park, Lancaster, LA1 4XQ

09:00 - 16:00

Chamber Breakfast Networking
Chamber Logo1.png.png
LBV Hub Networking
24 Apr 2024

Chamber Breakfast Networking

Lancaster & Morecambe College, Lancaster, LA1 2TZ

08:00 - 10:00

Business Networking in Lancaster - Eden Business Network
EVENT LISTING Eden Business Network.png.png
LBV Hub Networking
24 Apr 2024

Business Networking in Lancaster - Eden Business Network

The Borough, 3 Dalton Square, Lancaster, LA1 1PP

18:30 - 20:30

Business Networking in Preston - BNI Diamond
EVENT LISTING BNI Diamond.png.png
LBV Hub Networking
24 Apr 2024

Business Networking in Preston - BNI Diamond

The Marriot Hotel, Garstang Road, Broughton, PR3 5JB

07:15 - 09:00

30 Minutes: Net Zero Introduction for Blackpool Businesses - Free online event
BU 2024 Events.jpg.jpg
LBV Hub Webinar
24 Apr 2024 - 24 Apr 2024

30 Minutes: Net Zero Introduction for Blackpool Businesses - Free online event

Online, Blackpool , FY4 1EW

10:00 - 10:30

Your Business Bootcamp Bitesize: "Roger That… The Importance of Asking Twice"
CBP-logo LBV.png.png
LBV Hub Webinar
24 Apr 2024 - 24 Apr 2024

Your Business Bootcamp Bitesize: "Roger That… The Importance of Asking Twice"

Online, Online, Online

08:00 - 09:30

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more Lbv115 Online Graphic
Subscribe now

Weekly news bulletin