The Bracknell Investment Group (BIG) launched its BID Proposal and Business Plan to businesses from across the Southern and Western areas last week.
Maria Sabey, Head of Property at Fujitsu and Chair of the Bracknell BID steering group said, ‘The event was an overwhelming success with many positive comments from the businesses about the future of the area’.
Businesses learned of the new plan ‘to be recognised as the place where businesses develop and grow through collaboration and investment’
The first project area in the plan is about providing a great infrastructure and a smart working environment for businesses to operate and people and services to communicate, access and move around, safely and effectively. If the outcome of the ballot is successful, the area will be set to benefit from a number of initiatives including solutions to ease congestion and improve traffic management, improve navigation around the area for all and to ensure that the IT infrastructure meets the needs of businesses across the BID area.
The second project is all about supporting businesses in Bracknell to grow, develop and invest by creating a great working environment to operate effectively and attract and retain the best people. The plan outlines a number of initiatives including working with partners, landlords and occupiers towards creating a coherent identity, Maintain and develop schemes which aid the prevention of crime and to encourage inter‑trading and the development of working relationships amongst businesses within the BID area.
The budgeted income available for the five-year period of the BID is approximately £3 million. The yearly income will be made up of some £610,000 from the levy revenues and a sum averaging around £66,000 from voluntary, private and public-sector contributions.
Maria Sabey said, ‘We see the BID working closely with local groups and organisations, complimenting work that is ongoing in wider infrastructure projects, to attract inward investment, create a great operating environment and make a positive difference to your business.’
If you are a business and would like more information about the BID please email email@example.com
Notes to Editor
Bracknell BID will go to ballot in October 2019, the result will determine whether the area will become a Business Improvement District in April 2020.
BIDs are an investment in the local trading environment through the provision of added value services
BIDs are funded by local businesses through a regulated levy, therefore all beneficiaries pay.
They see improvements to business profitability and turnover which would not have happened without a BID.
Businesses identify the area and the issues and put together a proposal which should include delivery guarantees, performance indicators and management structure.
The plan voted for has a lifespan of 5 years and further proposals will have to be reaffirmed through a further vote.
There are now over 300 BID’s across the country.
There are two criteria which have to be achieved for the vote to be successful: more than 50% of the number of businesses who vote have to say yes and more than 50% of the rateable value of the businesses who vote have to say yes.