The government has announced the reduction of business rates for small and medium-sized music venues across England and Wales. The 50% cut will be extended to 230 small and medium-sized music venues with a rateable value below £51,000.
The UK’s first live music census revealed that in 2018, a third of British venues beyond London were struggling with noise restrictions and high business rates – the major contributing factors to the closure of 35% of grassroots music venues across England and Wales during the last decade.
The Music Venue Trust estimates that the move will save each site an average of £7,500 a year, and release more than £1.7 million back into the grassroots live music sector. Beverley Whitrick, Strategic Director of Music Venue Trust welcomed the “much needed and long overdue boost”.