Islington traders warned over promises made by ‘agents’

Published: 18 June 2010
by PETER GRUNER

STRUGGLING traders in Islington are being warned not to rely on “agents” who claim to be able to obtain business property rate rebates.

It follows a number of cases where small traders in Finsbury Park handed over cash to operators charging large fees who had no success in bringing down business rates.

A meeting of small traders at business forum Finfuture on Tuesday heard that ethnic minority businesses in particular were being targeted.

One café owner in Blackstock Road told how he paid £60 to an agent who claimed he could get him a rate rebate. “Then he came back to me asking for another £300, even though he had done nothing for me,” the trader explained. 

Valuation officers from Islington Council told the meeting that it is relatively easy for traders themselves to find out if they are due a rebate and lodging an appeal is free. One official said: “It is best to be wary of anyone who comes ‘cold calling’ or who wants payment for their services up front.”

The meeting heard that professional agents can be employed but should be a member of a recognised association.

Chairman of Fonthill Road Traders Association Selim Gozubuy­ukoglu, who has run a clothes store for 15 years, said he has never known trading conditions so bad. “We try and get help from the banks but they are not very helpful; we fight to survive every day,” he said. “How is it that the government has pumped millions into these banks to keep them afloat but we can’t access a small-to-medium loan? ”

Talal Karim, chief executive of Finfuture, said the meeting was a perfect opportunity for traders to express their concerns. “As a result an Islington valuation officer will visit Fonthill Road and see whether traders are entitled to a rebate. We don’t want to see Fonthill Road going downhill. This organisation wants to try and help to sustain these traders.”

• A commercial manager with Lloyds TSB group will be answering questions at a finance surgery on Thursday July 1, at the offices of Finfuture, 225-229 Seven Sisters Road, N7,  from 1pm to 4pm.  For further details call 020–7272 1465.