Sheffield BID – we’re voting YES!
Sheffield BID – we’re voting yes!
What is a BID?
BID stands for Business Improvement District. In layman’s terms, businesses with a rateable value of £40,000 or more within a specific area vote to pay 1% extra on their business rates. This is pooled to meet locally agreed priorities and thereby improve the area – in this case, Sheffield city centre.
Who can vote?
Only those who will pay for it – so businesses with a rateable value of £40,000 or more which are located within the city centre and are eligible. A business with a rateable value of £40,000 will pay £400 to the BID. This would raise approximately £800,000 of additional investment for Sheffield City Centre each year. More than 500 business in the city will be eligible to vote.
I can’t vote so why do I care? What does it mean for me?
Additional investment in the city centre benefits everyone and because it would be funded by businesses, it costs you nothing. This funding isn’t designed to replace council investment – it’s added value. If more visitors come to the city, shops and leisure facilities will stay open for longer and a wider range of events will be sustainable, which benefits everyone. With that bit of extra funding, the city can become more vibrant – a little greener, a little more colourful, through additional planting and street art.
What would the BID deliver?
The BID will focus on delivering projects around 5 key themes ( the result of consultation with a range of businesses and stakeholder groups in the city). These themes are: Together, Busier, Cleaner, Safer, Easier. In reality, what might that include?
Together – not one the man on the street will directly see, but the opportunity for businesses in Sheffield to work together to negotiate better deals e.g. to bring down cost for their waste disposal.
Busier – improve current city centre events, introduce new ones, joined up seasonal marketing campaigns.
Cleaner – as it says on the tin. More time spent cleaning key areas of the city, plus additional cleaning to combat the effects of the night time economy. Also more spent on making the streets look good e.g. planting.
Safer – more police about, more PCSOs about, increased number of city centre ambassadors.
Easier – we’re not the easiest city to park a coach in, and that needs to change. Coaches bring visitors, visitors spend money and sustain business – the BID would introduce a strategy
More detail can be found on their website http://www.sheffieldbid.com/boundary/
Or why not give them a follow @sheffieldbid