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RICHMOND BID PROPOSAL LAUNCH Raising the bar for Richmond www.richmondbid.london

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RICHMOND BID PROPOSAL LAUNCH

Raising the bar for Richmond

www.richmondbid.london

Richmond BID Proposal Launch1 Richmond BID Proposal Launch 2

Chairman’s foreword

Vision for Richmond 2017-2022

How do we know what Richmond needs?

Your business priorities

BID offer

The BID board and governance

BID budget

Who will pay the levy?

How will you benefit?

BID map

What happens next?

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CONTENTS As Chairman of Richmond BID, I am delighted to present our proposed Business Improvement Plan. This BID represents an incredible opportunity for all of the diverse businesses situated across this iconic area to drive forward a powerful agenda of transformation and improvement. Working collaboratively, the BID offers local stakeholders an outstanding opportunity to invest in a better future, enabling all sectors to benefit from the improvements and the economic growth of the area.

I am particularly proud of the strong retail mix of multiples and thriving independent outlets. The area also continues to evolve as a business district, more recently attracting numerous cutting edge IT and technology based companies. I am similarly excited about new opportunities on the horizon such as the tourist boom we are seeing across London. We are well aware, however, of some of the challenges facing the area, partly driven by the change we are seeing locally and rising competition from business improved areas across this region.

Through a partnership approach with the London Borough of Richmond upon Thames, the Greater London Authority, other statutory bodies, and the Richmond Chamber of Commerce, the business community will have a stronger and more influential voice to develop and shape the Richmond agenda. Together we will raise the profile and better promote Richmond as a retail, business and tourism destination;

we will enhance the physical environment to improve the Richmond experience; engage with the decision makers to shape future policies for the benefit of business community; and we will drive down business costs using BID’s collective purchasing power to deliver savings to your bottom line.

We have been encouraged by the positive response we have received from many businesses across all sectors within Richmond. The Business Plan has been written to highlight the areas that you, the members of the business community, have identified through consultation as priorities that need to be addressed. This Business Plan sets out the proposed projects we would implement as a BID, pending a successful ballot in October 2016.

In summary, the aims of the BID are simple; it will enable the business community to better steward the area and provide a sound mechanism to make Richmond a better place to do business, work, live and visit, something I am sure we all agree is exactly what we need.

Erick KervaonChairman, Richmond Business Improvement District (BID)

Chairman’s foreword

A vote in favour of the BID will unlock around £3.09 million investment for the area over the next five years, which will enable business growth and deliver your aspirations for the area.

Richmond BID Proposal Launch3 Richmond BID Proposal Launch 4

VISION FOR RICHMOND

2017 - 2022

There is more competition than ever across London and Business Improvement Districts (BIDs) are playing a crucial role in promoting key destinations, maintaining an area’s competitive advantage and stimulating further business growth through inward investment.There are now more than 50 BIDs in Greater London. BIDs are a proven vehicle to drive change and innovation, and deliver significant benefits to the businesses they represent – including but not limited to: funding public realm improvements, supporting small business, making areas safer and cleaner, creating vibrant attractive destinations. More than simply ‘improving’ areas, BIDs are now powerful strategic alliances where businesses come together around shared local business priorities. This gives businesses a strong voice with policy makers at all levels.

The BID is funded through a levy paid by local businesses, this in turn is used to fund a menu of services which have been directly identified by businesses themselves as the key priorities for the area.

Businesses in areas neighbouring Richmond, most recently Twickenham and Kingston town centres, already have BIDs promoting and improving these areas. Now is the time for Richmond businesses to seize this opportunity to ensure this area keeps pace as London continues to grow and competition among districts increases.

Richmond’s central location, good public transport links, strong international appeal and skilled workforce has led to many multinationals and large UK corporates choosing to locate here. More recently a swathe of technical and IT companies have moved here forming a “Silicon upon Thames”. These clusters have further strengthened the economic base of the area. As a location however, Richmond suffers from lack of parking, congestion, poor signage and street lighting and businesses have highlighted the need for greater more strategic promotion. In an ever more competitive world, Richmond can’t rest on its laurels. The vision of the BID is to deliver a powerful agenda to address these issues and raise the bar even further.

Richmond BID will cover a defined geographical area. The business community within this footprint will be asked to make a financial contribution via a small levy based on the rateable value of their business premises. All eligible businesses are given the opportunity to vote on the proposals and if there is a majority ‘yes’ vote, the BID is voted in. Businesses are then charged the additional levy and all income generated is spent exclusively within the defined area on projects determined by the local business community.

Why does Richmond need a BID?

“As a small independent retailer,

we are delighted to be part of this important initiative

for the area – businesses collaborating to ensure the

area is a destination of choice for visitors, businesses and

residents alike.” Edgar Carvalho Foot Solutions

Richmond BID Proposal Launch5 Richmond BID Proposal Launch 6

14% 13% 8%

49%62%

24%

10%

51%

39%

38%

5%

75%

20%

6%

57%

37%

30%

62%

Making sure businesses have a say in the future of this area!Richmond BID Development Team has undertaken extensive consultation with local businesses, Metropolitan Police, London Borough of Richmond upon Thames and other stakeholders to build a picture of what businesses want and what could be achieved. The consultation exercise was undertaken between January and March 2016 to formally gauge the views from businesses in the proposed BID footprint by a perception analysis questionnaire sent to all eligible businesses.

Understanding the key issues and priorities for businesses and occupiers forms an important step in the consultation in gauging whether a Business Improvement District is viable for the area. The consultation highlighted the key business priorities for the area and allowed businesses to feedback on additional services they would like the BID to deliver.

Employment and Enterprise

Corporate and Social Responsibility

Enhancements to look and feel of the area

Parking

Promotion and Profile of Richmond

Congestion

Not important Somewhat important Very important

How do we know what Richmond needs?

Your business priorities

“The council wholeheartedly supports the development of a BID in Richmond. Richmond already has a lot to offer but when it comes to attracting investment it has to remain competitive with neighbouring boroughs and we have seen the difference BIDs make in boosting business in other areas of London.”Councillor Pamela Fleming LB Richmond upon Thames

of those individual businesses who participated in the Perception Analysis agreed in principal that a BID is the best vehicle to address the business priorities in the area.

87%

The Perception Analysis gathered responses to five key areas

1. Employment and Enterprise2. Enhancements to look

and feel of the area3. Promotion and Profile

of Richmond4. Corporate and Social

Responsibility5. Parking and Congestion

Richmond BID Proposal Launch7 Richmond BID Proposal Launch 8

The BID will only provide services that are identified and determined by the local business community. The BID does not affect the level or quality of the services provided by the local authority.Projects and Services have been developed for each priority area. The estimated £3.09 million raised via the BID levy during the first term will be invested into these projects and services.

This document brings business aspirations together under five areas of activity:

• Promotion, Profile and Events

• Parking and Congestion

• Supporting Business Growth

• Enhancing the look and feel of the area

• Corporate and Social Responsibility

Shouldn’t the Council be paying for this through business rates?Local Councils are required to send business rates collected by them to Central Government. They then receive back a proportion of this revenue. There is no direct link between amount of rates collected and amount received back.

A BID in comparison generates revenue that is 100% ring-fenced for the specific area in which it is collected. The BID has a local agenda - monies generated are invested locally and decisions on allocation of spend are determined by the businesses themselves.

Legislation states that all services provided by the BID must be additional to those provided by the Council. Additionality is monitored through the production of a ‘Baseline Agreement’ with the Council to set out the standard level of service that is already provided for the BID area. This ensures that the BID levy only funds services and projects over and above this level.

Overarching objectives of the Richmond BIDWorking with partners we will:

• Raise the profile of Richmond and promote it as a first class business district, retail and tourist destination

• Engage with decision makers providing a collective voice for business

• Use the BID’s collective purchasing power to drive down business costs

• Enhance the physical environment to positively improve the Richmond experience for all: employees, shoppers, business and leisure visitors

• Support the retail and leisure industries as they are integral to the character of the area and have an important knock-on effect for the wider economy

• Develop innovative schemes to tackle parking provision and congestion in the area

• Foster greater joint working between all businesses within Richmond and promote greater links with businesses, charities, Richmond Chamber of Commerce, Visit Richmond, local authority and local community

Your priorities. Our objectives.

BID OFFER

“We have invested significantly

in our hotel to ensure we continue to meet the high

expectations of our guests. We support the BID for the same

reason: to invest in the quality of our locality and prosperous future

of the town centre.”Erick Kervaon Bingham Hotel

Richmond BID Proposal Launch9 Richmond BID Proposal Launch 10

Supporting Business GrowthIn the consultation, you wanted better relationships with other local companies. Some businesses trade between each other already but many more would like to see a more collaborative approach with opportunities and events to link up with other local businesses. It was also felt that clusters of innovation and joint working in the area could be further developed to help stimulate economic growth.

A focus on business efficiency and delivering savings on overheads were highlighted by businesses as the key to supporting business growth. An employee benefits programme to aid satisfaction and upskilling your staff was also considered beneficial. From a retail perspective, the number of thriving independent outlets was welcomed and this aspect of the town centre should be nurtured to ensure balanced mix to the high street.

Enhancing the look and feel of the areaThe public realm and physical environment of an area sends out a strong message about the surrounding business community. A well maintained public realm promotes inward investment, drives footfall and maintains the competitive advantage of an area. The BID will work closely with the local authority and act as a collective voice for business to ensure the physical environment in the BID area is maintained to a high standard.

The BID will complement the Council’s service provision to provide additional street cleaning over and above the Council’s statutory baseline level. Further to this, the BID will work with businesses and other stakeholders to better co-ordinate the collection of commercial waste resulting in a cleaner area and economies of scale in waste contract negotiations.

Promotion, Profile and EventsRichmond has a rich and diverse heritage, the iconic River Thames, beautiful outdoor spaces, theatres and galleries. The business split of the area is equally as dynamic.

In the consultation you told us that raising the profile of the area and developing a more cohesive marketing strategy was critical to maintaining and increasing the success of your business. You were keen that the marketing be tailored to meet the needs of all the business sectors within Richmond. The BID will promote Richmond as an area to live, work and visit. In order to succeed, we need to work collectively to showcase the assets we have in the area.

Parking and CongestionThe area is very well served from a transport perspective with excellent road and rail links. However, within the town centre parking and congestion are real issues for residents, visitors and businesses and if these issues are not addressed it would impact negatively upon future economic success.

Congestion and insufficient information on parking discourage visitors from stopping off in Richmond which in turn reduces retail spend within the town centre. The BID will improve business growth by alleviating congestion, tackling parking issues and improving air quality, as well as increasing footfall into Richmond by putting in place measures to ensure people can permeate the area more easily.

“We feel that collective working amongst businesses is essential to better promote and position Richmond. In the long run we believe this will lead to increased footfall and retail spend within the area.” Javier Oliva Wholefoods

The BID will:• Create an area brand and work with PR and media

agencies to strategically promote Richmond as a business district, retail and tourist destination

• Develop a dedicated website and social media platform to keep members of the public, businesses and their staff up to date on all BID events and activities

• Work closely with leisure and retail sectors to deliver a comprehensive schedule of events, arts projects, sports events and cultural activities including festive lights display

• Produce promotional collateral including an area magazine and a monthly newsletter to promote local businesses

• Track and share vital business intelligence such as footfall and business performance data

• Enhance Richmond Card and use it as a platform to encourage employees from corporate occupiers to access a range of offers from local retailers while contributing to increased spend in the area

The BID will:• Work with the local authority to review car

parking signage within the town centre

• Publicise comprehensive parking information, discounts and incentives on BID website

• Jointly procure a waste management service on behalf of BID members - this will save money for businesses, reduce the number of collection vehicles servicing the area while reducing congestion and improving air quality

• Explore ways of consolidating goods collections and supplies with a view to piloting smarter deliveries projects, similar to those implemented within Central London to tackle congestion

• Lobby for public realm improvements and removal of street clutter to aid flow of traffic and pedestrian movement

The BID will:• Provide additional street cleaning (on top of the

Council’s baseline service) and deep clean in particular ‘grot spots’

• Facilitate better air quality and greening initiatives

• Provide monitoring and reporting of environmental issues

• Work with businesses and other stakeholders to better co-ordinate the collection of commercial and residential waste resulting in cleaner streets

• Improve signage in the area

• Work with Metropolitan Police ensuring community safety remains high on the agenda and supporting initiatives such as a business radiolink and online crime-reporting platform to reduce shoplifting within the town centre

• Review the street lighting and provide an enhanced Christmas lights display for the area

• Spearhead long term public realm projects

The BID will:• Support local staff retention: better integrate

Richmond Card within town centre so that local employees can access offers from local retailers, supply area welcome packs to new employees, organise lunchtime activities and seasonal intercompany sporting events

• Organise networking events for local companies to encourage collaboration, using Chamber of Commerce to add strength and better coverage across Richmond town centre

• Roll out a small business network in partnership with RBRA and Chamber of Commerce for those independent retailers and small companies falling below the BID membership threshold

• Set up a programme of B2B mentoring and share best practice using existing models like the Chamber of Commerce programme, and make it available to all BID businesses

• Develop a centrally procured waste and recycling scheme and identify opportunities for joint procurement of other business services and utilities to drive down operating costs

• Develop and publicise a local Business Directory

• Commission a Retail Strategy to attract and retain the right mix of retailers to the area

Richmond BID Proposal Launch11 Richmond BID Proposal Launch 12

Corporate and Social Responsibility (CSR)Corporate and social responsibility is seen as a key business priority amongst all Richmond businesses. Businesses want to operate in an open and transparent way following best practice around issues such as sustainability and running an energy efficient premises.

Having an effective corporate and social responsibility policy in place offers businesses not just an add-on but also a source of competitive advantage in the marketplaces in which they trade.

If the BID ballot is successful, a not-for-profit company limited by guarantee will be created. The BID company will be governed by a board made up of local business representatives, observers from the local authority, the Metropolitan Police and Richmond Chamber of Commerce. An executive team will be appointed to deliver the projects and services outlined in this BID Proposal.

The BID board will be made up of representatives from across all sectors within the BID membership to ensure balanced representation around the table. Services on the board will be made on a voluntary basis and the chairperson will be nominated by the board on a 2-year basis. The board will be supported by a number of steering groups to oversee the

delivery of activity. The themed steering groups will represent the wider stakeholder community and be chaired by a board member with an allocated budget for expenditure. It is proposed that both the BID board and steering groups meet on a quarterly basis. The BID finances will be audited annually and this will be presented at the AGM.

How can I get involved in the running of the BID?All BID levy payers will be invited to become members of the BID Company. Company Members may subsequently nominate themselves for directorship in their relevant sector or sit on one of the BID’s steering groups.

The BID board and governance

“We have over 400 employees in our Head Office in Richmond and feel it is essential that there is continued investment in the area to ensure it continues to be a first class business district and retains its status as one of the best places to work, visit and live in.”Piers Kelly Reed Exhibitions

“As a large employer in the area - we support the proposed BID and look forward to being actively involved. Our corporate mission places emphasis on investing in the communities we work in and we feel that the BID can deliver a wide range of sustainable services and initiatives that will help businesses of all sizes within Richmond Town Centre prosper whilst also benefitting the wider community.” Nicola Longfield Paypal

The BID will:• Broker employee volunteering scheme and team

challenges for local companies

• Develop ‘sustainable business’ initiatives and report back on environmental goals

• Provide a corporate and social responsibility support service and work with existing organisations such as Richmond Chamber of Commerce to build upon any CSR initiatives already in place

• Develop area-wide Smarter Giving Campaigns with seasonal appeals such as Christmas toy donation drives

Richmond BID Proposal Launch13 Richmond BID Proposal Launch 14

Over the course of the BID term, up to £3.09m in BID levy will be raised and spent solely for the benefit of the Richmond BID area. In addition, the BID works hard to use your money to lever in additional investment – both additional cash match-funding in the form of grants, sponsorship and voluntary contributions, and also through influencing large-scale investments of public funds into the area on public realm projects and additional services.

The BID budget

* Management and overhead costs are met firstly through the voluntary contributions generated by the BID, minimising as much as possible a commitment from the BID levy funds.

A BID levy collection rate is assumed to be 95%. The BID levy collection fees and BID running costs (such as legal and accountancy services) are also shown in the budget. The budget is based on five full fiscal years.

London Borough of Richmond is responsible for covering the cost of the ballot to ensure it is carried out fairly and democratically. Once the BID is fully operational, changes to budget priorities will be made by the BID Board at a General Meeting.

Cost to your business The table below sets out the indicative levy payable for businesses depending on their rateable value in the first year of the BID:

To calculate the proposed annual BID levy, simply multiply the business rateable value by 0.015. If you’re not sure what your rateable value is or how much your levy would be, please get in touch with the BID team.

INCOME 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 TOTAL

Levy Income 594,319 607,677 619,584 629,832 638,330 3,089,741

Voluntary contributions 35,000 35,000 35,000 35,000 35,000 175,000

TOTAL INCOME 629,319 642,677 654,584 664,832 673,330 3,264,741

EXPENDITURE 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 TOTAL

Supporting Business Growth 75,000 76,875 78,797 80,767 82,786 394,225

Parking and Congestion 73,000 74,825 76,696 78,613 80,578 383,712

Promotion and Profile 130,000 133,250 136,581 138,879 138,828 677,538

Enhancements to look and feel of the area 171,000 173,575 174,414 174,475 174,837 868,301

Corporate and social responsibility 60,000 61,500 63,038 64,613 66,229 315,380

Management and overheads* 90,000 92,250 94,556 96,920 99,343 473,070

Contingency 30,319 30,402 30,502 30,565 30,729 152,516

TOTAL EXPENDITURE 629,319 642,677 654,584 664,831 673,329 3,264,741

Richmond BID will invest £3.09 million between 2017 and 2022 in the improvements outlined in this plan. The BID will aim to secure a minimum of £175,000 additional income in the form of voluntary contributions and grant income to complement the BID levy.

RATEABLE VALUE ANNUAL BID LEVY

£35,000 £525

£100,000 £1,500

£500,000 and above £7,500

Richmond BID Proposal Launch15 Richmond BID Proposal Launch 16

A BID will benefit all sectors. Richmond’s mixed sector base is a real asset for the area. A BID will work to support all the businesses in the area, working closely with the business community to understand the commercial drivers for different sectors and challenges facing the area. The following sets out what we aim to achieve for each sector:

Office Occupiers• Strong representation on issues that matter to you

and have the potential to impact your bottom line

• Raise the profile of the area as a business district addressing business concerns about retaining and recruiting skilled staff

• An enhanced, cleaner and safer environment that improves the area for visiting clients and staff

• Projects to facilitate networking, business collaboration and development, encouraging greater staff retention and stimulating growth

• The opportunity to reduce operating costs through joint procurement of waste and recycling, recruitment and other services

• Roll out of employee privilege card scheme – each local employee will be given a card which will entitle them to access a range of offers from local businesses

Retailers• Increased marketing and promotion of the area to

increase footfall and dwell time

• Full programme of events and festive activities

• A cleaner and safer trading environment

• Improved signage, street lighting and festive lights display

• Promotion of an enhanced, more diverse retail mix which will support Richmond’s unique retail offer

• Roll-out of employee privilege card scheme that provides better linkages between corporate occupiers and retailers contributing to increased spend in the area by the local workforce

Leisure and Hospitality • A joined up marketing and PR strategy to promote

the visitor offer in Richmond with a particular focus on the unique tourism offer

• Improved wayfinding around the area to make it easier for people to navigate their way around Richmond

• Integration within BID community and collaboration on initiatives

The BID process is governed by Government Legislation and Regulations. As such, once a majority vote has been achieved, the BID levy becomes mandatory on all ratepayers with a rateable value above the threshold set below.

The rules for the BID levy are as follows:• The BID levy will be based upon the rateable value

in effect on 1st November 2016.

• The term of the BID will be for a period of 5 years from 1st April 2017 to 31st March 2022.

• Only businesses with a rateable value of £35,000 or more will be liable for payment of a levy.

• The levy rate to be paid by each hereditament (rated business unit) is to be calculated as 1.5% of its rateable value. There is an upper cap on BID levy - no business will pay in excess of £7,500 per annum in levy across any of the 5 years of the BID.

• The number of hereditaments liable for the levy is estimated at 350.

• The levy multiplier may be increased in line with the Retail Price Index (Year 1: 1.5%; Year 2: 1.538%; Year 3: 1.576%; Year 4: 1.615% and Year 5: 1.656%). The board will assess if any increase is appropriate giving careful consideration to the economic climate.

• The levy will be charged annually in full for each chargeable period to be April to March each year. The levy must be paid in one payment.

• There is no VAT charged on the BID levy.

• Charitable organisations that are subject to relief on their business rates liability are exempt from the levy.

• The owners of untenanted hereditaments will be liable for payment of the levy with no void period allowed.

• If, during the BID term, the rateable value assigned to a hereditament falls below £35,000 for whatever reason (either through physical change, change of use) the hereditament will be exempt from the levy from the next chargeable period.

• If, during the BID term, a hereditament with rateable value which had previously been below the £35,000 threshold is assigned a new rateable value which is above £35,000 for whatever reason (either through physical change, change of use) the hereditament will be liable for the levy from the next chargeable period.

• The rating revaluation proposed for 2017 has not been taken into account when setting the levy multiplier. Levy billing will mirror the normal NNDR system.

Who will pay the levy?

How will you benefit?

BID membership by sector

7%

14%

45%

34%

Other*

Leisure and Hospitality

Retailers

Office occupiers

* Educational institutions, libraries, Police station, car parks

Richmond BID Proposal Launch17 Richmond BID Proposal Launch 18

You voteBusinesses in Richmond area will be asked to vote ‘yes’ or ‘no’ to endorse this Business Plan. London Borough of Richmond upon Thames is responsible for managing the ballot process and sends out a ballot paper to each eligible business.

Richmond BID Development Team will contact businesses within the BID boundary to discuss this Business Plan.

Ballot opens: 03 October 2016 – ballot papers issued to businesses

Ballot closes: 27 October 2016 – ballot papers must be received back no later than 5pm

How to voteLondon Borough of Richmond upon Thames is responsible for managing and paying for the ballot to ensure it is carried out fairly and democratically.

The BID will proceed over 2017-2022 if two tests are met:1. A simple majority of those voting in the ballot

must vote in favour

2. Of the votes cast, those voting in favour must represent a majority by rateable value of the hereditaments (rateable business unit)

If a business has more than one hereditament, it will receive a ballot paper for each unit. Each paper counts as one vote, therefore it is important that every paper received is completed and returned.

If the ballot is successful, the BID will commence activity in April 2017 and will continue for a period of 5 years to March 2022.

Richmond BID streets include:

The BID footprint starts at the roundabout at the Twickenham Road and runs southwards through Richmond town centre, including the hotels further down on Richmond Hill. See map below:

Boundary map What happens next?

The

Qua

dran

t

Twickenham Rd

Park

shot

Park lane

Little Green

Pembro

ke Vi

llas Portland Terrace

Sheen Rd

Richmond Hill

Bridge S

t

Petersham Rd

Church Rd

George S

t Eton St

Red Lion StParadise RdTh

e Gree

n

Hill St

Water La

ne

King St

Duke St

Friars

Lane

Whittaker Ave

Proposed BID area

Richmond

RichmondGreen

River Thames

St John the Divine

Brewers LaneBridge StreetChurch CourtChurch RoadDuke StreetEton StreetFriars LaneGeorge StreetGolden CourtHeron SquareHill RiseHill StreetKew RoadKing StreetLittle GreenLower George RoadNightingale LaneParadise RoadPark LaneParkshotPetersham RoadRed Lion StreetRichmond HillRiversideSheen RoadSpring TerraceThe GreenThe QuadrantThe SquareTwickenham RoadWater LaneWhittaker Avenue

www.richmondbid.london