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@kings_lynn_bid The King’s Lynn Business Improvement District.

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Presentation on theme: "@kings_lynn_bid The King’s Lynn Business Improvement District."— Presentation transcript:

1 @kings_lynn_bid The King’s Lynn Business Improvement District

2 @kings_lynn_bid Introduction Who we are What is a BID What’s Happened so Far Proposed Business Plan What Happens Next Q & A

3 @kings_lynn_bid Who are we ? A Group of Business in King’s Lynn Keen to do more to improve the Town Working towards a Common Goal People like you !

4 @kings_lynn_bid Who are we ?

5 @kings_lynn_bid What is a BID? A Business Improvement District is defined by Legislation Gives Businesses greater control Enabled Businesses to raise their own money An area defined by Businesses Managed by Businesses For the benefit of Businesses Voted for by Businesses

6 @kings_lynn_bid What is a BID? A BID is an opportunity for everyone who runs a business in King’s Lynn town centre to make a positive contribution to the town…and to make more money. Why else would we do it?

7 @kings_lynn_bid The Story so far Pre lots of talk about BIDs Apr Steering Group of Local Business May 12 – July 13 –Surveys/discussions etc July 2013 – Draft Business Plan published Nov Business Plan finalised Dec Approval to proceed Jan Publicity and promotion

8 @kings_lynn_bid Business Plan Aims, Objectives and Key Priority areas for Kings Lynn Businesses Identifies the BID area Identifies the costs and who would pay Identified a series of projects About the BID company and It’s responsibilities Service Level Agreements – LA, Police +others

9 @kings_lynn_bid Key Issues Changes to car parking arrangements within the Town Centre Improve town centre PR Stand up for businesses Increase footfall into the town centre Maintain and develop King’s Lynn as a tourist hub Improve communications on town centre matters

10 @kings_lynn_bid Key Issues Create an environment to encourage a wider retail mix Generate operational cost savings for town centre businesses Enhance the visitor experience through a revitalised streetscape Develop a strong collective voice to shape public and commercial policy, with a particular focus on the visitor experience in the town

11 @kings_lynn_bid To create a vibrant town we can all be proud of, where businesses prosper, our communities thrive and for visitors, a destination of choice. Aims & Objectives 1. Improve Marketing, Promotion and Events within the Town 2. Improve Town Centre Access and Movement 3. Provide a Better Quality Place 4. Increase Profitability for our Members 5. Speak up for Businesses

12 @kings_lynn_bid Improve Marketing, Promotion and Events within the Town Projects Comprehensive marketing plan Town Centre loyalty card and shopping voucher scheme. Regular Town Centre promotions, themed weeks and a ‘shop local’ scheme. Develop car parking and local transport promotional activities

13 @kings_lynn_bid Improve Town Centre Access and Movement Projects Work with partners to improve parking provision in the area and the production of a parking guide and signage, including a ‘How to get to’ guide Provide large town maps in key location such as the multi-storey car park, bus and train station and other key locations within the town.

14 @kings_lynn_bid Improving the Quality of the BID Area Projects Promote the area for inward investment, new office occupiers and retailers. Working with the local authority to revitalise the markets within the town. Work with partners to introduce family friendly facilities i.e. weekend shopper crèche Investigate premises improvement grants

15 @kings_lynn_bid Increase Profitability for our Members Projects One Stop Shop’ assistance from the King’s Lynn BID team on any matters relating to trading Provide water and energy audits for businesses Introduce a town wide waste collection and recycling to reduce the costs Identify opportunities to develop further radio link and CCTV monitoring across the town

16 @kings_lynn_bid Speak up for Businesses Projects Act as a voice between businesses and other key stakeholders within the town on key issues. Lobby for additional funds; apply for funding and grants to invest in King’s Lynn BID area. Representing business views on key projects within the BID area or on projects Creation of a town centre newsletter for all businesses

17 @kings_lynn_bid Who will Pay ? All Businesses within the proposed BID area The person responsible for the Business Rate Exemption - Places of worship and non- retail charities (under 7.5k) Government Legislation and Regulations govern the BID process. As such, if a majority YES vote has been achieved, the BID levy becomes payable by all defined ratepayers.

18 @kings_lynn_bid BID Area

19 @kings_lynn_bid How Much? Small Premises Rateable Value £10,000 Annual BID Levy £150 Medium Premises Rateable Value £25,000 Annual BID Levy £375 Large Premises Rateable Value £100,000 Annual BID Levy £1,500 Businesses with a rateable value of £7,500 or less will pay £100 per annum Business with a rateable value of over £7,500 will pay 1.5% of their rateable value.

20 @kings_lynn_bid What Next Jan – April 14 – Promote Proposed BID Feb 2014 – Formally Announce Ballot Date March 14 - Issue Ballot Papers Mar 2014 – Go to Vote April 10 th – Final Voting Date

21 @kings_lynn_bid Q & A Questions and Answers


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