Member Article

BID4Leeds making headway as consultation enters end stretch

BID4Leeds, the partnership run by Leeds BID Ltd, established as a not-for-profit company to create a Business Improvement District for Leeds, is well under way with its public consultation and set to go to ballot in the new year.

A feasibility study has been carried out, and a draft business plan is currently being prepared using the results of the research based on 709 out of a potential 1097 businesses being contacted to discuss proposals.

The proposed BID could generate up to £10 million over five years to invest in the city according to organisers, and if the BID is successful it will run from 1 April 2015 to 31 March 2020.

Initial findings supported the proposal of a 1.25% levy rate with a threshold of £60k rateable value meaning that approximately 1,000 businesses would contribute annually to a budget of in the region of £2 million.

The BID would focus on place shaping and investment in the city as well as raising Leeds’ profile to increase footfall, dwell time and spend. It would also put in place a coordinated marketing and event activities.

To create a BID a ballot is required amongst businesses within the proposed BID Zone and this will need to be repeated within five years for it to continue, which is where the Leeds proposals are, with ballot dates between January 29 and February 26, with an official announcement on February 27.

John Bywater, managing director of Caddick Developments and chairman of BID4Leeds said: “At a time when over 100 of the UKs biggest businesses have called for Business Rates to be overhauled as being no longer fit for purpose, it seems strange that a large number of key businesses in Leeds should propose a BID which effectively adds 1.25% on existing rates bills.

“The answer is, of course, that businesses feel that the Business rates they pay, which go direct to Central Government, do not always support or encourage business at the local level within the business district, particularly improvements to the built environment and business-led initiatives.

“Despite the best intentions of councils, and we have one of the best here in Leeds, they cannot do everything and are bound by regulation and even politics.

“A BID is a separate company financed and operated independently.It`s purpose is to give the local businesses a voice. It will develop a business plan for the BID area to deliver initiatives to improve and encourage business within the City. It is entirely democratic and is voted for by the business rate payers.

“The success of BIDs globally has been astounding and as a Leeds boy, I am only surprised that my home city has taken so long to reach this point.

“In reality though Leeds has been the recipient of some serious infrastructural investment over recent years and the time has not been right for a Business Improvement District to oversee its maintenance and management in conjunction with other authorities.

“Now however, the time is right. Leeds is a city with a great future ahead. Investment via businesses within the City is a strong message to the rest of the world that Leeds means business and that it is planning for the future.

“We are already a City that the world is taking notice of. A BID will help position us centre-stage for years to come.”

There are currently 185 Business Improvement Districts (BIDs) in the UK and Republic of Ireland, and 70,000 businesses are reportedly now part of a BID.

To voice your opinion, complete the BID4Leeds online survey here.

This was posted in Bdaily's Members' News section by Clare Burnett .