It's a YES to the UK’s Biggest Business WIN
There are currently around 250 Business Improvement Districts (BIDs) in the UK and these are generally towns, cities or industrial areas. But in North Notts, we don’t follow… we lead! We have ambitious and ground breaking plans to develop the UKs first place-shaping, area-wide BID that will raise £3.2m of funding over the next five years.
A BID is where businesses within a defined area work together to identify, invest in and deliver a range of key projects and services that they have chosen to improve and boost the local trading environment.This gives us a golden opportunity to showcase North Notts and your businesses. Completely business managed and business led, putting your businesses in the driving seat and giving you a direct say in how the funds are invested over the next five years.
From a feasibility study undertaken in early 2016, 71% of businesses surveyed said that they would support a BID for North Notts. A private sector BID steering group was formed to take this work forward.
How it Will Work
- The BID levy will be set at 1% (generally between 1%-4%)
- Businesses with a rateable value of less than £12k per annum will be exempt though will have the opportunity to pay a voluntary contribution if they wish to be actively involved
- There is a cap of £12k as a maximum levy per individual business
- We have also capped at £12k for those that have multiple businesses in the area
Chosen by You
After consulting with over 400 businesses during the following months we have produced a five year BID business plan which is based on your feedback. This will cover the needs of all sectors including retail, industrial and rural businesses:
1. The Place for business and Innovation
The BID will help businesses to grow and prosper and position North Nottinghamshire as the place to do business. We will introduce peer-to-peer networks where local businesses can share experiences; offer access to funding and business support and look to bring empty commercial units back into use, providing support to new and emerging businesses.
2. Make Savings
With 1000+ businesses within the proposed BID area we will encourage and promote business-to-business trading and encourage all businesses across all sectors to ‘buy local’. The collective strength of these BID businesses across the area will achieve economies of scale to provide instant savings and added value for your business, to include: Gas & electricity, telecoms & broadband to name but a few.
3. Safe and Secure
We will work with partners including the Police and Council to ensure that your towns, villages, industrial and rural areas are a secure and safe place to work, live and visit through improved monitoring, security and surveillance.
4. Marketing our Area
We will actively promote North Notts both locally and nationally as a destination of choice. We also plan to improve directional signage and parking for locals and visitors and to introduce coordinated seasonal retail and leisure campaigns to drive footfall into our area.
5. Keeping Talent Local
We will work with local employers and education and training providers to ensure that people are fully aware of what is available locally so that they don’t feel the need to migrate out when looking for education or career opportunities. By recruiting locally, employers have the advantage of employees with a greater knowledge of the area with less disruptions due to traffic or weather.
6. Clean and Welcoming
To ensure to avoid a negative, ‘unloved’ image of North Notts we will work with partners to ensure that our towns, villages and country roads are clean and maintain tidy. We will create more outdoor areas and improve the existing town, villages and industrial areas through landscaping and in securing awards like ‘Britain in Bloom’ where businesses will also benefit from the local and national exposure this can bring.
7. Modern and Productive
We will install free wifi in the four main towns and encourage local businesses to promote themselves as wifi hotspots. We will also review current broadband speeds and look to extend the existing microwave broadband for rural businesses.
Visitors come to the area for a variety of reasons. A day visitor (stays for more than 3 hours) spends around £35 a visit and an overnight visitor spends £150 a visit. The Visitor and Tourist Economy will be boosted by offering a well-connected package of events and experiences to encourage more people, more often, staying longer and spending more.
We went to ballot between Tuesday 18th April and Tuesday 16th May 2017 with your YES vote you ensured that we can really take North Notts to the next level.
More information about the BID is available for you to download here 10 Great Reasons