NEWRY BID BUSINESS

WORKSHOPS JUNE 2015

A Business Improvement District (BID) is a local, democratically elected organisation that focuses on delivering specific improvements identified by local

businesses in a defined area. BIDs invest in and deliver projects aimed at improving the local trading environment, driving down business costs and raising the profile of the

area as a whole. BIDs are led and controlled by businesses. They are independent, not-for-profit organisations with

ring-fenced funding and resources.

HOW DOES A BID HAPPEN?

- Funded by a ‘levy’ or investment agreed and paid by businesses - BIDs operate for 5 years - A Ballot is held for businesses to cast a vote to form a BID - Over 50% of businesses that vote, must vote in favour of the BID.

Of the businesses that vote, those voting yes must represent a greater total rateable value than the businesses voting no.

- 25% turn out - A business plan is agreed, projects the BID will fund are listed and

costed. The budget and 5 year plan is published

WHY AM I HERE?

- This directly affects you - Make an informed decision - To understand your priorities for the city centre and

ensure the Business Plan reflects your needs- You are part of the consultation process- Doing nothing is not an option

CURRENT UK POSITION

- 241 successful BID ballots - 41 unsuccessful ballots - 66/73 reballots - 46% turnout - 74% vote in favour - 100,000+ businesses - £300 million investment - 20% additional income

WHAT ARE BIDS DELIVERING?

- Marketing and Promotion - Safety and Security - Cleansing and Maintenance - Access - Physical Environment - Business Support

BID PROJECTS (1) MARKETING AND PROMOTION:

- High Street Vouchers - Free Parking Initiatives - Online Directory and Social Media app - Events and Festivals - Improved Market

BID PROJECTS (2)SAFETY AND SECURITY

- Increased CCTV - Community Wardens - Town Centre Teams - Extra policing for events - Radio Links

BID PROJECTS (3) CLEANSING AND MAINTENANCE

- Additional cleansing - Graffiti removal - Flower arrangements

BID PROJECTS (4) ACCESS

- Affordable Car Parking - On street signage - Working with public transport to ensure accessibility

BID PROJECTS (5) PHYSICAL ENVIRONMENT

- Enhanced Streetscape- Support for improving/maintaining shop fronts - Ensure best presentation of city at key periods - Physical welcome at all entry points

BID PROJECT (6) BUSINESS SUPPORT

- Insurance - Trade Waste /Recycling - Press/Media Buying - Recruitment - Networking - Awards - Start up assistance / Attract Investment- BID as a lobbying organisation for businesses

BENEFITS OF A BID - Business performance up - Business costs down - Business Control and Accountability - Proper business planning - Achievable Projects - Realistic Funds - Maximum Value for Existing Services - Additional Funding - No Freeloading

Bedford BID saw increased retail in sales by 3.5% in the first five-year term. BID Leamington saw footfall up by 4.4% year-on-year. New West Company drive total Retail and Leisure sales up by

5.5%.

BENEFITS OF A BID

BIDs can also drive business costs down through collective buying schemes i.e. trade waste,

insurance, advertising etc. Bath BID saved £285,000 pa for 300 small businesses by centrally negotiating waste management contracts. Camden BID saved

businesses an average of £430 per year on recycling. Since the launch of the Ealing Broadway BID scheme

in November 2009, the local business community saved a total of £434,712.

THE NEWRY BID PILOT SCHEME:

- One of 7 BID test areas in NI - NI BID Academy - BID Project Manager - Funded by NMDDC and DSF- Survey- Consultation Period - BID Open Nights- BID Newsletter - BID ‘Vote Yes’ Campaign - BID Ballot for Newry: October

NEWRY BID OPEN NIGHT 16TH AND 23RD APRIL

NEWRY BID STUDY AREA:

- 800 PLUS BUSINESSES - 51 STREETS - COMPOSITION: Retail OfficeFinancial Food and Drink Leisure

TOTAL RV: 26 million

Levy? 1.5% of RV

1. Improved Marketing, Profiling , Better Promotions

2. Accessibility

3. Supporting our Businesses

4. Improved Physical Environment

5. Safe and SecureYou say...

WHAT WILL IT COST?

To calculate your annual BID levy based on a 1.5% charge, divide your rateable value (RV) by 100 and multiply by 1.5. For example:

RV £5,000 / 100 x 1.5 = £75 BID levyRV £10,000 /100 x 1.5 = £150 BID levyRV £50,000 /100 x 1.5 = £750 BID levyRV £250,000/100 x1.5 = £3,750 BID levyRV £500,000/100 x1.5 = £7,500 BID levy

If you had £370,000 to spend on improvements, how would you spend it?

On the basis of what you heard here today, would you vote YES or NO for a Newry BID?