A FORMAL ballot to support the establishment of a Business Improvement District (BID) in Redditch Town Centre takes place from June 28 and will close on July 25, 2019.
A BID is a business-led and business-funded initiative formed to improve a defined area.
The first BID was established in 2005 and there are now more than 300 in the UK.
The Redditch BID, which will be known as ‘Revitalise Redditch’, will bring more than £1million of investment into the town centre over the next five years, providing more events, a much stronger marketing presence and a voice that promotes Redditch and all that its got going for it.
The levy for the proposed Revitalise Redditch BID will be two per cent of a premises rateable value.
For the smallest businesses this will cost a daily equivalent of just 82p a day, an investment less than the price of a daily coffee.
Commenting on the proposed BID, the chair of Revitalise Redditch, Ken Williams, said: “A BID is unique in giving businesses control to direct the future of their trading environment has been a great experience to explore the opportunities for Redditch town centre.
“Redditch is surrounded by BIDs in neighbouring town centres, including Stratford, Worcester, Solihull and Northfield, all who have BIDs.
“Redditch is at risk of being left behind if it doesn’t take action.”
Nationally, UK high streets are undergoing seismic change and town centres are encouraged to respond to the changing nature of retail and the modern consumer in order to survive.
Over the past 12 months, businesses have been consulted on their priorities.
It is this research which has guided the Redditch Town Centre Partnership to create a business plan which will become available from June 12.
Some of the benefits a Redditch BID will deliver include networking events for businesses to explore new opportunities, specialist place marketing, events and improved safety.
Together, these initiatives aim to bring visible improvements and positive PR to Redditch town centre.
Businesses eligible to vote, will receive their ballot papers in the post.
Drop in sessions for businesses interested in the projects the BID will deliver will be taking place on June 18 / 21 / 25 / 28 at the Kingfisher Shopping Centre.
More details of the BID can be found at www.redditchbid.co.uk