Government amendments to the Bill, which received Royal Assent on 15 November, help provide greater business certainty, the BRC added.
The BRC said it was pleased the Government had withdrawn a measure allowing small groups of local residents being able to call referendums on any subject.
The Assets of Community Value provision, intended to allow communities to step in and protect a local resource, had also been more clearly defined the BRC said, ensuring proposals should no longer interfere with businesses’ ability to trade or be a barrier to investment.
British Retail Consortium director general, Stephen Robertson said:
"Retailers are at the heart of local communities and only thrive by providing local people with what they want and need at prices they can afford. Consumers shape the retail environment where they live with the choices they make about how to spend their money.
"The Government has clearly listened to the case we made about the need to give businesses as much certainty as possible. This helps provide the necessary environment for investment and growth in the private sector. We look forward to more of this productive dialogue in future."