A £1.14m scheme designed to entice businesses to Croydon has been expanded.

Firms with up to 250 employees can benefit from 65 per cent discounts on business rates by moving into retail or office buildings in central Croydon, South End and London Road.

Croydon Council hope the initiative, funded by the Mayor of London's £23m regeneration cash, is designed to encourage small but expanding firms to the centre of the borough. 

Financial software specialist Inalytics and financial stock plan administrator Solium, both of which have moved to Lansdowne Road, are among businesses to have taken advantage so far.

Councillor Vidhi Mohan, cabinet member for economic development, said: “It’s gratifying to see that businesses are realising the benefits of setting up shop in central Croydon.

"The town centre has so much to offer in terms of trading opportunities, staff recruitment, great transport links, shopping and much more.

"Now, with the incentive of business rates relief on top of all that, Croydon is proving very attractive for companies that are beginning to see the first shoots of economic recovery and are confident they can grow their business.”

Businesses which want to find out more should contact economy@croydon.gov.uk