Retail Trade: West Midlands
The question
To ask the Secretary of State for Business and Trade, what recent steps his Department has taken to support small businesses in the retail sector in the West Midlands.
Answered by Kate Dearden
We’re creating a fairer business rates system that protects small retailers, including introducing permanently lower rates for retail, hospitality and leisure properties under £500,000 rateable value. The government has protected the smallest businesses from the impact of the increase to employer National Insurance by increasing the Employment Allowance from £5,000 to £10,500, which means that 865,000 employers will pay no employer NICs at all this year.
Our recently announced Small Business Plan aims to tackle late payments, boost access to finance, and remove red tape to enable small businesses, including retailers, grow and thrive. The West Midlands Growth Hub is where small and medium businesses in the West Midlands can benefit from specialist business advice on how to grow, access new markets and receive government support.
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