Businesses just starting up in Morley town centre will be able to apply for reduced business rates for the first three years
Following a long campaign by Morley Borough Independent councillors, the new scheme was given the green light at a recent Leeds City Council Executive Board meeting.
Coun Shirley Varley first raised the issue of reducing the rates for new businesses in 2010 in the hopes of attracting new companies to the area.
She said: “I am pleased we now have this scheme operating in our town. This is exactly what new businesses have been asking for and it will help the town centre to thrive in these difficult times.”
The business rate scheme is part of the Localism Act which gives councils the power to offer rate relief to businesses under certain conditions.
The Mayor of Morley, Coun Tom Leadley supports this scheme and believes it will help local people as the first three years are the most difficult for any new business as start up costs alone could see them fail.
He said:“The town council has been supporting this proposal for some time. It gives new small businesses a real break and the financial support they need to make sure their business is sustainable. The three year business rate reduction will boost the local economy and help those new businesses to get established in the Town Centre.”
The scheme is open to any business that can prove they are just starting up, all they have to do is apply to Leeds City Council.