The Cuban government has attempted to adapt to the circumstances by promoting local tourism and encouraging domestic travel. However, foreign visitors still play a crucial role in the island’s economy, accounting for a significant portion of revenue. According to the Cuban Ministry of Tourism, approximately 1.5 million tourists visited the island in 2022, a number … Read more
Local businesses are particularly affected, with many struggling to adapt to changing consumer habits and the rise of online shopping. A survey conducted by the Federation of Small Businesses in September 2023 revealed that 40% of small retailers reported a decrease in sales over the past year, prompting calls for immediate action to support these … Read more
Understanding the background and necessity of business rates Business rates are essentially a tax on non-domestic properties and contribute significantly to local government funding. With rising operational costs, businesses are currently undergoing a transformation as local councils reassess property values. This reassessment process often reflects the changing economic landscape, making it essential for governmental bodies … Read more