In our last blog you could read about how business rates slowly kills famous pizza restaurant retailers in this country. Unfortunately, this was not the only example of the “struggling” high street, due to business rates, utility bills, rent etc.
Today I write about another group which is constantly affected by business rates. Revaluation of business rates, (1 April 2017), had a significant impact on landlords and retail occupiers.
Especially in areas of South England, where we could see the biggest business rate rises, pressure on the high street is significant. Additional pressure on estate agencies was perhaps caused by Brexit and online competition?
At the moment, according to the new research, one in five UK estate agencies are in risk of going out of business! Many of the estate agencies shows signs of financial distress. Research says that a drastic drop in profits at two of the UK’s biggest estate agents took place recently!
A leading UK independent association has asked for business rates to be cut for “struggling” high street premises before it is too late, pointing also at the fact that estate agents are one of the three types of businesses in UK being in trouble due to high business rate fees. They also stated that three stores a day were closed last year.
Remember, if you are a business owner and you are struggling to pay your business rates, there is help available with us and all our advice is free.
Visit our website: www.businessratehelp.co.uk/ or call: 01225-667-747
Get our Business Rate Help – Bailiffs. Disputes. Debts. Quickly Resolved ! 5 Star Reviews !