Businesses in the Southern and Western areas of Bracknell stand to gain from the £3.4 million worth of investment over the next five years in ‘being recognised as the place where businesses develop and grow through collaboration and investment’
The investment will be generated through the Business Improvement District or BID plan which businesses have been working on over the last eighteen months and is now going to ballot, with the final date of the ballot period being 31st October.
Businesses have highlighted the importance of the transport infrastructure leading into, off and around the two business areas was emphasised frequently with businesses raising concerns about congestion and traffic flow, particularly at peak times.
One of the initiatives included in the plan is to identify and deliver where possible, short and longer-term solutions to ease congestion and improve traffic management onto, off and around the BID area. Further plans include the maintenance and appearance of roads, improvement of lighting and signage, cost effective availability of travel options and improving the digital communications and IT infrastructure to meet the needs of the business community.
Lynda Perry, Head of Occupier Services at McKay Securities Plc whose property 329 falls within the BID area said, ‘One of the key strengths of the area back in the 80’s and 90’s was its proximity to London and number of technology businesses in the area. However, as traffic congestion has worsened and the way in which we work is changing, quick and efficient transport connections are more important than ever. This impacts on businesses’ ability to access clients and even recruit the right people.
She went on to say that, ‘A BID will allow us to pool our collective commercial skills and, working closely with the Council and other bodies to address some of the strategic issues such as traffic congestion which create challenges for the businesses based here.’
If you are a business and would like more information about the BID please email firstname.lastname@example.org
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.