£50,000 investment fund launched for Kirkcaldy town centre

Small to medium businesses in Kirkcaldy Town Centre could receive a share of a new £50,000 Investment Fund.

Fife Council has launched the £50,000 Shop Front Investment Fund to support businesses in Kirkcaldy Town Centre planning to upgrade or refresh their shopfront. As part of the package, businesses will benefit from upfront planning guidance with specialist guidance on hand for listed buildings and buildings within conservation areas.

The fund has a generous intervention rate of 80% capped at £3,000 with potentially a £4,000 contribution if the business is located within a listed building or within a conservation area.

Cllr Neil Crooks, Chair of Kirkcaldy Area Committee said: “We’re listening to what people are telling us. Based on initial feedback from the place-standard online survey and from businesses themselves, this new fund is part of a range of things we are introducing to help support Kirkcaldy Town Centre.

“This Fife Council Fund follows on from the recent announcement that Kirkcaldy has secured £1.6M as part of the Scottish Government Town Centre Capital Fund allocation to Fife for capital projects throughout the town.

“There’s real drive from businesses, third sector organisations and Fife Council to work together on our common goal of helping Kirkcaldy Town Centre continue to develop into the attractive and thriving place we all want it be!.

“There will be more announcements in the coming weeks about some of the other things we’ll be doing to support the town centre in these challenging times but in the meantime, I’d encourage business owners to check their non-domestic rateable values to see if they are eligible for any rates reliefs

For example, based on rateable values of individual properties 2018/19 in Kirkcaldy Town Centre, 66% of properties could qualify for 100% small business rates relief – that’s means 6 out of 10 properties could potentially pay no business rates! 6% of properties could qualify for 25% rates relief and the larger units, 28% of properties, whilst not eligible Small Business Bonus Scheme relief, could qualify for other reliefs, so it is worth while checking”

To find out more about the Shopfront Investment Fund please contact hazel.cross@fife.gov.uk or speak to Kirkcaldy 4 All based on Kirkcaldy High Street

You can check Non-Domestic Rateable Values on the Scottish Assessor website https://www.saa.gov.uk/

To find out more on Non-Domestic Rates including reliefs visit  https://www.fife.gov.uk/kb/docs/articles/business2/business-rates