Following a survey of town centre businesses, which indicated overall support for the possible creation of a Business Improvement District (BID) in the town, the Nuneaton Business Alliance are currently co-ordinating a series of proposed improvement projects via a BID.

A BID is a business-led and business funded body formed to improve a defined commercial area. Most are governed by a board made up of businesses who represent the BID area, which means that businesses have a genuine voice and decide and direct what they want for the town.

About the BID

The following are intended to answer a few common questions about the proposals, although please contact us if you have any further queries.

How a BID would help businesses

There are more than 300 BIDs already operating across the UK and businesses say that the benefits they have brought about include:

  • Businesses being in control of major projects
  • Improved promotion & marketing
  • Increased footfall, leading to increased turnover
  • Events and activities to increase vibrancy
  • Additional networking activities

How BIDs are funded and set up

A BID is funded by businesses paying a small proportion of their business rateable value and this money is then ring-fenced for use only in the BID area. A BID can only be formed following consultation and a ballot in which businesses vote on a Business Plan which they have developed.

The proposed cost to businesses

A levy of 1.75% is being considered in Nuneaton, resulting in an average business investment of approximately £400, although half of all businesses would pay less than this. A discount is being considered for tenants of managed centres to reflect the service charges which they pay and an exemption level of £10,000 is also being considered, which means that small businesses would not be liable to pay the levy.

The money which could be generated

Initial indications suggest a BID area of approximately 335 businesses, which would generate approximately £190,000 per year, and which would be likely to be supplemented by contributions from local businesses outside the town centre. It is proposed that the BID would initially operate for 5 years, meaning that approximately £1m of improvements would be generated for the town.

The area which could be covered

Feedback suggests that the area covered by a BID should be within the boundary of the main ring road, however, the area proposed remains open to consultation.

Proposed timetable

The current proposals are for the following timetable to adopted:

DatesAction
June 2019 - May 2020Business liaison and consultation
June 2020Launch of Business Plan
August 2020Ballot papers issued
September 2020Deceleration of the Ballot results
October 2020 - January 2021Formation of BID
February 2021BID begins operation

Projects

Initial feedback suggests that improvement plans for Nuneaton should focus around the following main areas:

1. Marketing & Promotion, to include the creation of a strong town centre brand
2. Safety & Security, including support for the evening economy
3. Cleanliness & Appearance, to include graffiti removal
4. Access & Signage, including transport issues

We are encouraging any other ideas which businesses may have as part of our ongoing consultation and the final proposed projects will be fully detailed and costed within the Business Plan, which businesses will be invited to vote on.

Downloads

Please click on any of the links below to download further information regarding the BID:

Contact Us

We want the views of as many businesses as possible in helping shape the proposals and would urge you to get in touch with us via the details shown below.

Chris Gregory

Project Manager – Heartflood Ltd

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