Shared Workspace Support Programme
London is home to over one million SMEs, including micro-businesses that account for 99.8% of businesses and nearly half the capital’s jobs. These SMEs contain much of London’s future innovation, enterprise and growth. For micro and small enterprises, the top three costs they face are rent, rates and staff.
There will be a number of workspace providers, in particular, incubators, accelerators, co-working spaces, artist’s studios, and makerspaces who are now facing uncertain futures, financial difficulties and possible closure, as a result of COVID-19, which already had a significant impact on the workspace environment.
They need to make their spaces open and able to work for all Londoners. However, for workspaces to remain financially viable must be able to manage their costs.
This financial challenge remains as a result of:
- Accessing business rates relief.
- Short term and medium-term impact of COVID-19.
Past research has shown that there continues to be a lack of understanding about:
- Business rates: what are they and how are they calculated?
- The eligibility for business rates relief and how to apply for it (as there is no consistent approach across all the local authorities).
Understanding Business Rates and Business Rates Relief schemes
This new initiative, supported by the Greater London Authority and London BusinessHub, seeks to address this by:
- Helping further bridge the knowledge gap in terms of workspace providers, across London, understanding of business rates and business rates reliefs
- Highlighting the current COVID-19 schemes linked to business rates relief relevant to workspace providers
- What the post-COVID-19 environment could be like for workspace providers?
How will we do this?
London Business Partnership Limited in partnership with GeraldEve, industry expert, will be hosting this short webinar. You can also book 1:1 advice.
The webinars will take place over the next few months – upcoming dates include:
- Tuesday 3 November, 11:00am – 12:30pm.
What is involved?
A short interactive presentation explaining about business rates and all the current business rates relief schemes, followed by a Q&A session
There will also be the opportunity to book a 1:1 advisory session with GeraldEve to discuss your own specific circumstances at a later date.
How to Negotiate a Rent Holiday
Advice on how to negotiate a rent holiday during COVID-19.
Support for businesses in Tower Hamlets to adapt to the new trading environment.