The Planning Act 2020 Extension: What It Means for Your Business Plan
As a business owner, it’s important to stay up-to-date with any changes in legislation that can impact your operations. One such change is the Planning Act 2020 Extension, which was introduced in response to the covid-19 pandemic and its impact on the economy. This extension brings new rules and regulations to the planning system, and it’s important to understand how it can affect your business plan.
What is the Planning Act 2020 Extension?
The Planning Act 2020 Extension is an amendment to the existing Planning Act 2008, which is a framework for the development of infrastructure projects in England and Wales. The main aim of the extension is to accelerate the planning process and boost economic growth by reducing bureaucracy and increasing flexibility. This is achieved by introducing new measures such as the use of digital technology, the extension of certain planning permissions, and the streamlining of certain application processes.
How Does the Extension Affect Your Business Plan?
The Planning Act 2020 Extension can potentially impact your business plan in several ways. One of the primary areas of impact is the planning permission process. With the extension, certain planning permissions can be extended, which means that you may be able to continue with your project for longer without needing to re-apply for permission. This can be particularly beneficial if your project involves a long-term development plan.
Another area of impact is the use of digital technology. The extension encourages the use of digital technology in the planning process, which can make it quicker and more efficient. This can be advantageous for businesses as it means that applications can be processed faster, and decisions can be made more quickly.
The extension also introduces new measures to support local economies, such as the creation of new opportunities for businesses and the encouragement of sustainable development. This means that if your business plan aligns with these measures, you may be able to benefit from new opportunities that arise as a result.
Examples of How the Extension can Impact Your Business Plan
To provide some context, let’s look at some examples of how the Planning Act 2020 Extension can impact your business plan.
If you’re a property developer, the extension can benefit you by enabling you to progress with your project for longer without needing to re-apply for planning permission. This can save you time and money, which can be reinvested into your project.
If you’re a small business owner looking to expand, the use of digital technology in the planning process can benefit you by making it quicker and easier to apply for permission. This means that you can get your project off the ground faster, which can help you to compete in a crowded marketplace.
If your business plan aligns with the extension’s measures to support sustainable development, you may be able to benefit from new opportunities such as funding or grants. This can help you to grow your business in a sustainable way, which can lead to long-term success.
Conclusion
The Planning Act 2020 Extension introduces new measures to the planning system that can impact your business plan in several ways. By understanding how the extension affects you, you can take advantage of new opportunities and make informed decisions about your business. It’s important to stay up-to-date with any changes in legislation, and the Planning Act 2020 Extension is no exception. If you’re unsure about how the extension affects your business, it’s worth seeking professional advice to ensure that you’re making the most of the new measures.
