Businesses in Edinburgh have welcomed the move by councilors to increase funding for traders affected by the ‘yet to be completed’ trams project. The policy and strategy committee of the council passed a proposal that seeks to increase funds from £210,000 to £445,000 per year in an effort to assist in marketing the city centre.
The council also confirmed that the affected businesses in Edinburgh will be given a special opportunity to make applications for revaluation of their properties to help them benefit temporarily from reduced rateable value.
The annual £445,000 fund has been earmarked for the periods 2011-12 and 2012-13; and is scheduled for channeling to the Business Program which is designed to support businesses in Edinburgh City, the West End and Leith Walk. The Business Program is particularly targeted at promoting brand identities of the affected businesses, in addition to auditing empty shops and launching promotional campaigns in the media.
Click for businesses in Edinburgh
The labour Edinburgh group leader , Andrew Burns, said the trams project disrupted several retailers operating in the city centre who now need the support by way of extra funding.
Burns reiterated that small businesses in Edinburgh make significant contribution to the growth of the city’s economy and should be given all the necessary support they require especially now that they have been affected by a council project.