Business News and Events

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Other News

Small Businesses Rate Relief

New legislation will enable local authorities to automatically apply rates discount through the Small Business Rate Relief Scheme.

The scheme, which awards a percentage rate relief for businesses occupying non-domestic property in England with a rateable value of less than £18,000 (£25,000 in London) requires businesses to submit an annual application to their local authority.

Visit the j4bGrants website for more information.

Government Support For UK Manufacturing Industry

A £50 million investment to continue the work of the Manufacturing Advisory Service (MAS) over the next three years was also announced, maintaining the delivery of the highly valued industry advice service.

Visit the j4bGrants website for more information.

DECC Port Upgrade funding to be administered through GBI

The funding for port upgrades to accommodate the next generation of wind turbines and secure the construction of new manufacturing plants is to go ahead.

The £60 million port upgrade programme, which was feared to be cut under the Comprehensive Spending Review, was due to go ahead on a competition basis, allocating the funding in one stage to upgrade capacity of port and harbour facilities to handle the larger turbines for third-generation offshore wind farms.

The competition approach, however, was deemed to contravene State Aid laws, and it was feared that it might distort the emerging offshore wind market. The DECC has now resolved to allocate the £60 million fund through the Grant for Business Investment (GBI) between April 2011 and March 2015, which satisfies State Aid requirements and means that proposals will not have to be rushed through, which would potentially disadvantage bids which will require more time to complete or otherwise don't fit the competition approach.

Twenty five UK ports had been identified as potential offshore wind 'hubs', but the funding will now only be allocated in the Assisted Areas in England - as per the requirements of the GBI - meaning that ports in the south of England and the devolved administrations will now not be eligible.

Ports applying for funding will now have to apply in collaboration with a manufacturer to avoid refurbishing facilities that will not be used for the intended purpose. Siemens, General Electric and Mitsubishi had all indicated interest in constructing new manufacturing facilities following the port upgrade funding.