Businesses vote for three new BIDs

By on 28/10/2011 in News

Businesses in three separate areas of Birmingham have voted in favour of taking more direct control of their futures and promoting the economic success of their communities by backing plans to set up new Business Improvement Districts (BIDs).

In an independently scrutinised ballot the majority of participating business, as measured by rateable value, in Sutton Coldfield (58%), Acocks Green (64%) and Northfield (85%) voted in favour of establishing BIDs.

For a BID ballot to be successful more than 50% of businesses who take part in the ballot, as measured by rateable value, must vote 'Yes'.

Where BIDs are established businesses agree to pay a small levy, proportionate to their rateable value, into the BID so that the collective funds can be used to promote and support all businesses within that area.

The new BIDS, which will all come into effect over the next few months for a period of five years, will make a total of nine BIDS operating across Birmingham. Existing BIDS include:

  • Broad Street (now in its second 5-year term)
  • Retail Birmingham (city centre)
  • Southside
  • Colmore Row
  • King Heath
  • Erdington

 Cllr Timothy Huxtable, Cabinet Member for Trnasport, Environment and Regeneration, at Birmingham City Council, said:

 “I am delighted that the businesses have voted in favour of the BIDs being established, allowing them to begin to enjoy the same benefits and sense of local empowerment as businesses in existing BID areas.

 “BIDs provide a fantastic mechanism by which local businesses throughout Birmingham can work together to use locally tailored intelligence and solutions to promote their collective well being.”

ENDS

For more information please contact Simon Houltby 0121 303 3503

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