What is a BID?
A BID is a Business Improvement District
BIDs are part of the Government’s long-term strategy, along with ‘Town Teams’ and the Mary Portas Review to encourage partnership working between a Local Authority and the business community. A BID is a defined area within which rate-paying businesses decide on new improvements to help transform their area – and then vote to agree the investment. This money is then ring-fenced to provide the improvements agreed through the BID strategy. There are over 300 BIDs in the UK now with many now in their second term, some in their third. The majority of these had a greater turnout and an even greater vote in favour than the first time of voting. They see improvements to business profitability and turnover which would not have happened without a BID.
The Brighouse BID seeks to build on the town’s rich history and strong character, creating a place where everyone feels safe and secure. The BID’s vision is to ensure that Brighouse is seen as a destination town, with a vibrant, lively and welcoming atmosphere where visitors will return time after time to shop and spend within the community.
The main objective of the BID is to deliver a pragmatic and business driven agenda to levy payers through an effective partnership with the public sector. Its focus is on driving investment to improve the town over a five year period, seeking to achieve positive and measurable outcomes to benefit all businesses.
What is the duration of a BID?
A BID normally lasts for five years. Some BIDs choose to run for three years. A BID can be renewed for future periods, but needs to go through a renewal process.
In recent years our town has seen a revival, thanks to a regular calendar of successful events and a good mix of retail and other businesses. But lifestyles are changing rapidly and as the town competes for its catchment’s disposable income, businesses in Brighouse need sustainable support to take advantage of its important strategic location, and lively town centre atmosphere.
Through the BID, businesses could implement changes that they choose, to help improve the profile of businesses in the town, improve links between the different commercial sectors, and encourage people to visit more often and stay longer thus sustaining a more vibrant economy across the whole town and its surrounding area.
How will the BID be developed?
Building on the excellent work undertaken by the Brighouse Business Initiative, a steering group of people representing local businesses has been created. The work through the development stage will be led by Calderdale Council who will fund the project to the point of ballot, with key decisions made by this steering group. Membership is not finalised and if you wish to get involved please email email@example.com
It is essential that the businesses in the area determine the activities and objectives of the BID Business Plan. A series of business interviews, workshops, surveys and other research will be carried out to determine
- what improvements businesses in Brighouse would like to make,
- why people visit Brighouse and what would encourage them to visit more and stay longer.
Based on this consultation the steering group will develop a business plan reflecting business needs and requirements. This document is what potential levy payers should base their ballot decision upon.
The BID will be approved if the majority of ratepayers in a designated area vote in favour of additional investment. This enables businesses to have a direct role in deciding what improvements should be made in their town. After five years, the businesses will re-vote on whether they want the BID to continue and what they want to improve over the next five years.
The Brighouse BID regularly engages with its levy paying businesses to better support them, through a range of tactics:
- Regular social media promotion on the Visit Brighouse channels
- Opportunity to engage with consumers through third party campaigns (LoyalFree & Totally Locally)
- Involvement in multimedia campaigns such as videos and photoshoots
- Press opportunities with local print and broadcast media
- Addition to the Visit Brighouse web directory
- Private B2B seminars and events
- Newsletter inclusion to other local businesses
Alongside this, every year the team work hard to pull off exciting events to help drive footfall into the town, including the highly anticipated 1940s weekend and the popular artisan markets.
How much does it cost?
As a voluntary member, we will offer you all of this support in return for an annual fee. Levy payers currently pay 1.75% of their rateable value plus inflationary increases as per the Brighouse BID prospectus / business plan. Businesses can join the BID at any time.
If you want to be a part of our mission to raise the profile of Brighouse, please email firstname.lastname@example.org or call 01484 937006 and we can deliver a welcome pack with everything you need to get started.