YES! Businesses vote to keep their BID

STRATFORD BUSINESSES VOTE TO KEEP BID

 

Stratford-upon-Avon’s Business Improvement District (BID) is to continue for another five years after the town’s businesses voted overwhelmingly ‘yes’ for the organisation to continue for a third term.

The results of the month-long voting process, which closed yesterday (Thursday, September 27th), are:

 

Turnout by number 172 (41% of those eligible to vote)

Yes by number 121 (70%)

Yes by RV 87%

 

Under Government rules, UK BIDS are required to be re-elected by their members every five years. Stratforward’s second term is due to finish on March 31st, 2019.  The positive outcome means it will now continue until at least 2024.

Sara Aspley, outgoing Chair of Stratforward, said: “This is great news and the overwhelming vote shows the massive support there is in the town for the work that we do.”

BID Director Joe Baconnet added: “A huge thank you to those businesses who voted yes and who have supported us through this process. For those who voted ‘No’, please be assured that we will work hard to earn your support. As a business community, we are stronger together and the BID is about the town and your businesses. Now the real hard work begins.  Everyone knows that the High Street is facing incredible challenges at the moment and there is no time to lose.  The team will be starting to implement the proposals that form part of the BID 3 Business Plan, drawn up in consultation with our members over recent months, with immediate effect.”

As part of the BID3 Business Plan, Stratforward plans to carry out additional work including:

●      A new marketing and brand strategy to promote the town to as wide an audience as possible, including the creation of a town-wide image library that can be used by members as well as for marketing and PR

●      Improvements to the current business-facing website and the creation of a new consumer-facing website

●      Collaboration with partners to develop Stratford’s evening economy, as well as supporting initiatives to help the business community by dealing with areas they have highlighted such as begging

BID3 will also see the continuation of successful elements of BID2 including:

●      Town Hosts team

●      Staff savings scheme – parking and BID Card discounts

●      Company saving schemes

●      Events and marketing campaigns

 

Even Shakespeare's Ghost was over the moon with the result!

 

NOTES 

1.    BID DIRECTOR JOE BACONNET IS AVAILABLE FOR INTERVIEW EITHER IN PERSON OR DOWN THE LINE. PLEASE CONTACT STRATFORWARD ON 01789 299011 (mobile 07468 591946) WITH INTERVIEW REQUESTS.

2.     Stratforward is Stratford’s Business Improvement District (BID), representing 430 shops, cafes, pubs, restaurants and businesses in Stratford town centre. Stratforward is one of 300 BIDs in the UK - a business-led private/public sector organisation charged with helping a designated area to maximise its business potential.

3.    Following the yes vote, BID3 will run from April 1st, 2019 to March 2024.

4.    The BID is paid for by its members through a levy. All businesses over a certain size in the BID area pay the levy. It is calculated as a percentage of the rateable value of the property. For BID2, the percentage payable (the multiplier) was 1.45% of the rateable value. The consultation proposes a BID levy of 1.47% for BID3.  The BID rules will allow a fixed inflation increase of 2% (or less) each year meaning year two’s multiplier would be approximately 1.49%.

5. To be successful, the ballot needs to satisfy two tests:-

a.    The number of businesses voting in favour must exceed those voting against.

b.    The total rateable value of those hereditaments which vote in favour must exceed the total rateable value of those voting against.