Business rate cut will boost online firms

Responding to the Chancellor’s announcement in the budget that the Government will cut business rates for half a million businesses, Clare Gilmartin, managing director of eBay in the UK, said:

“The decision to cut business rates for one year is an important boost for the digital economy. eBay’s Online Business Index tracks the views of online firms, and they consistently tell us that a cut in business rates is the number one policy change that would help them, backed by almost half of online firms. A fifth see it as the major barrier to their success.

“Cutting edge firms like these are essential to restoring the British economy to growth, and we are pleased that the Chancellor is listening to their concerns.”

eBay’s Online Business Index is a regular barometer of the performance and attitudes of online firms, based on a survey of 500-700 mainly small to medium-sized businesses trading on the internet. According to the Index, 48% of online firms want a reduction in business rates – higher than any other policy. And 19% see it as the major barrier to the growth of their business.