Small business owners are at the forefront of economic growth and development in Rotherham. To stay competitive and thrive in the current business climate, small business owners must keep up with the latest news and updates that affect their operations. Here are the latest Rotherham business news updates for small business owners:
1. Funding opportunities
Small businesses can benefit from various funding opportunities, including government grants and loans. Rotherham Investment and Development Office (RiDO) offers local businesses support on grant programs, which can help them to grow through investments in infrastructure, property, or training and skills development.
2. Changes in business rates
Business rates are taxes levied on non-residential properties based on the rental value of the property. The Rotherham Council will be implementing a revaluation of business rates soon. This change will help small business owners who are paying higher rates than necessary.
3. Changes in the high street
The Rotherham town center has undergone significant changes, with new shops and businesses opening regularly. High street retailers and businesses are continually adapting to changing consumer preferences. Understanding evolving consumer habits will help businesses keep up with the competition.
4. COVID-19 support schemes
The COVID-19 pandemic has affected businesses worldwide, including those in Rotherham. Several support schemes are available for small businesses, including tax cuts, employee retention schemes, and access to finance. Small business owners can contact the local council for assistance.
5. Brexit updates
Brexit will significantly impact small businesses operating in Rotherham who import and export goods to other EU countries. It is crucial for small business owners to stay updated and understand the new regulations and rules.
6. Business networking events
Networking events are a valuable way to connect with other local businesses, share potential clients, and build relationships. Business networking events in Rotherham are a great way for small business owners to expand their network.
In conclusion, keeping abreast of the latest business news and updates in Rotherham is essential for small business owners. These updates can have significant impacts on their operations and success. By staying informed, small business owners can take advantage of opportunities, adapt to changes, and navigate challenges effectively.
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