HUNDREDS of companies in a North-East town are expected to benefit from a number of business rate relief schemes.

Middlesbrough Council has unveiled proposals which it hopes will encourage traders to set up or expand in the town and support those existing businesses who have adversely affected by increased bills

The first scheme, which is being funded by the council, will provide discretionary rate relief for businesses, so long as they meet a set of eligibility criteria.

Betting shops, takeaways, payday loan shops and pawn brokers won't be due any assistance.

Instead, the council will be targeting funds to eligible small businesses with a rateable value of less than £200,000 and which have seen an increase in their bills of more than £100 – or five per cent.

It is estimated that approximately 350 business could be in line for the financial support, and the council will contact those businesses, encouraging them to apply for the relief in the next few weeks.

Councillor Nicky Walker, Middlesbrough Council’s executive member for finance and governance, said: “We don’t ever want to be in a position where someone would love to open a bar, a restaurant, a shop, a beauticians or anything else and decides it’s too much of a risk because of business rates.

“We hope these business rate relief schemes will encourage new business and let existing businesses know that we want to support them to be a success in Middlesbrough.”

Councillor Charlie Rooney, Middlesbrough’s Deputy Mayor and executive member for city strategy, said: “From the Corner Emporium to Baker and Bedford Street to our current investment strategy, Middlesbrough Council has long recognised the important role small businesses play in creating a unique offer which will draw more people into Middlesbrough.

“Our city centre is seeing huge investments at the moment from the private sector and from the Council itself and we continue to make great strides in cementing our position as the economic heart of the Tees Valley.”