Purley Business Improvement District (BID) is raising concerns over the recent increase in business rates, which have seen businesses in the retail and leisure industries facing rate hikes of approximately 2.7 times the previous amount. This significant rise is proving unsustainable for many small businesses in the area.
Simon Cripps, CEO of Purley BID, stated, “The recent increase in business rates is a severe blow to our local businesses. For example, one business has seen its rates jump from £1,179.60 to £2,874.24, while another has experienced an increase from £2,161.29 to £5,913.15. These hikes are simply unsustainable and threaten the viability of many small enterprises in Purley.”
Chris Philp MP added, “I am deeply concerned about the impact these rate increases are having on our local businesses. It is crucial that we support our small businesses, which are the backbone of our community. I will be working closely with Purley BID to address this issue and seek a fair resolution.”
Purley BID had previously lobbied with the support of Chris Philp MP to get rates reviewed and successfully got the rates reduced by 30% under the previous government. However, with the retail industry changing and many transactional traders heading online, the current rates model is not fit for purpose. The Purley BID is calling for the government to firstly make an immediate adjustment to the current rate fees and secondly to overhaul the rating system.
Shadow Chancellor, Mel Stride MP and Chris Philp MP for Croydon South recently visited Purley to discuss the situation with businesses.
John Ives-Brown of JD Motors commented, “As a small business owner, the increase in business rates has been devastating. The financial burden is immense, and it is becoming increasingly difficult to sustain operations. We need immediate action to prevent further harm to our local economy.”
Purley BID is calling on local authorities and policymakers to review the recent rate increases and consider measures to support small businesses during this challenging time.