Link small business rates to profitability instead of property value.

Summary

The Government should reform business rates, so small and micro businesses are assessed based on actual profitability rather than property rental values. We believe this would create a fairer system that reflects modern trading conditions and supports financially vulnerable high-street businesses. Business rates are linked to a property's rateable value, calculated based on rental values, not on whether a business is profitable. Many small businesses may require larger premises for safety, accessibility or operational needs but serve limited numbers of clients, meaning high rateable values do not reflect real income. As costs rise businesses can become liable for substantial rates long before they are financially stable. We believe linking rates to profitability would create a fairer, more sustainable system that reflects modern trading conditions.

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