Sue Summers, chief executive of Finance Birmingham, which provides funding support to small businesses, welcomed the changes to business rate relief:
“Small businesses are the driving force of the UK economy and in many cases, business rates have been limiting successful firms, preventing them from growing and realising their potential as quickly as they could.
“Any measures that help them to gain more control and lower their fixed costs should be welcomed. Alongside this, access to funding and raising the awareness of these options amongst small business owners is the key to unlocking the growth of SMEs. Any steps that provide financial support to small business to take the next step should be embraced.”