Many towns and cities are now creating BIDs as a way to generate extra income to help support their high streets. BIDs are controlled by businesses for the benefit of businesses and together they decide what activities are undertaken. In other towns, this has included things like marketing and events, additional cleansing, planting schemes, shopper loyalty initiatives and crime prevention projects.
Funds are raised to pay for a BID through a levy (usually around 1% of rateable value) which is paid by businesses on top of their business rates.
A BID will only be created if businesses want one and vote in favour of it.
Over the last 12 months, the Blackburn Town Centre Partnership have been looking into the potential for a Blackburn BID. We have been consulting businesses on what kind of things they think would help
them and whether they would be prepared to vote for and pay into a BID.
So far feedback has been positive and the town has the potential to raise up to £250,000 through a BID.
Before we are ready to formally take a vote on it, we are keen to consult with businesses further on the proposal, answer any questions you may have and get your ideas on what activity would most help your
business and the town to prosper. We are planning a consultation event on Thursday 25th October 2012 so that we can explain more about what a BID is, what businesses have already said they would like to see happen in the town centre and to get some more feedback from people about whether they think it's a good idea or not. Details of the event to follow shortly.......
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