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Arena Basingstoke Benefits from Enterprise Zone Status

Following an extension to the borders of the ‘Enterprise M3’ zone, we are delighted to announce that our newest centre in Basingstoke (The Square) will now benefit from Enterprise Zone (EZ) status. This is a hugely exciting development that will enable residents of The Square to benefit from tax breaks and additional Government support, simply by virtue of location.

 

Enterprise Zones form part of the Government’s long-term economic plan to support the growth of SMEs by providing a host of benefits for businesses located within the designated ‘zone’. The first Enterprise Zones were established in 2012 and and since their inception they have supported 635 businesses, attracted over £2.4bn of private sector investment in these businesses, helped build world-class business facilities, improved transport links and attracted 24,000 jobs. There are now 48 Enterprise Zones across the country.

 

The advantages of being located within an Enterprise Zone are numerous (including opportunities for subsidised staff training and investment to improve business facilties and transport links), however arguably the most attractive of all benefits afforded by the Enterprise Zone initiative is the opportunity to receive tax breaks. 

 

Businesses located within an EZ can receive up to 100% business rates relief for a period of five years. Businesses that move to the Enterprise M3 Zone before the 31st March 2022 will be eligible to receive business rates discounts to the value of £275,000 over a period of five years (equating to £55,000 per year). Without the expense of business rates, SMEs are able to invest their funds back into their own business – and even consider a larger office than would ordinarily be possible to help grow their company.

 

The Square, Basing View offers Grade-A office space within the Enterprise M3 Zone, providing the perfect place for SMEs and entrepreneurs to prosper and grow their businesses. For more information about Enterprise M3 and to find out how your business could benefit from being based in the area, please visit https://www.enterprisem3.org.uk/ 

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