27 Nov Bracknell BID will cover Western and Southern Industrial Estate
Occupiers in the town’s main industrial areas can give themselves a voice if they approve plans for a Bracknell BID (business improvement district) next year. That was the message to more than 60 business and property professionals at the first Bracknell Social event run by UK Property Forums this November.
What is a BID?
A BID is a defined geographical area within which local individual rate-paying businesses put forward ideas to improve and transform their area. These ideas are then voted on by all the BID members. BID funds are ring-fenced to provide the improvements agreed through the BID voting process. This ensures a sustainable and democratic way of creating a development plan for the area which can help transform the district into a better place for business and residents.
Bob Collis who chairs the Economic & Skills Development Partnership (ESDP) and is on the BID steering group for the Bracknell Investment Group, the body driving the initiative, told delegates at the Pegasus-sponsored event it will cover the Western and Southern industrial areas where around 260 firms are based. Mr Collis said:
“Not only is it going to generate great opportunities for the Western and Southern business areas in Bracknell, but it gives a strong voice to the businesses in those areas.”
Occupiers within BID areas pay a levy on their business rates for specific improvements. Around 90 per cent of UK BIDS, which number more than 300, are focused around town centres. The Bracknell BID, which will be the town’s first, will be one of a small but growing number of industrial BIDS.
Its prospects are boosted by research which showed 61 per cent of businesses in the southern and western areas anticipated growth. Feedback from businesses so far, showed the issues most businesses wanted addressed were around road infrastructure and congestion.
A vote on whether to approve the BID’s business plan will take place in around a year. The BID steering group includes members from Waitrose, 3M, Bracknell Forest Council, Caterpillar, ESDP, McKay Securities PLC, Page Hardy Harris, Fujitsu, Panasonic and Ambition Creative.
Nick Hardy, who heads up Page Hardy Harris’ Bracknell office, added
“The vote for a Business Improvement District offers a great opportunity for occupiers of the Southern and Western Business Areas to work together for an even better business environment in Bracknell. It is an initiative that Page Hardy Harris support and are proud to be involved with.”
More information on the Bracknell BID go to www.bracknellbid.co.uk