A Business Improvement District, or ‘BID’ for short is a defined area, such as a town centre like Altrincham, where businesses come together to collectively invest to improve their trading environment.
A BID can be voted in by a majority of businesses, through a secret postal ballot, for a maximum term of five years.
During this term, occupiers of all business properties within the BID boundary will be required to pay the mandatory levy, irrespective of whether they cast a vote in the ballot. In Altrincham’s case the levy is proposed to be 1.5% of rateable value.
Businesses voted with a majority of 68% (74% by rateable value) in favour of creating a BID in Altrincham. The turnout was 44%, which is higher than the national average for a BID ballot.
Altrincham BID Board members are now working hard behind the scenes to get the BID up and running for the start date of April 2016, and two BID Advisory Groups (made up of BID levy-payers and specialist representatives from within the town) are also in place and beginning work on projects within the specific areas of Marketing & Events and Business Operations.
For regular updates from the BID Board, have a read of the News Feed.
Thank you to everyone who voted - this is an exciting time for Altrincham as we work together to improve our town.
Altrincham businesses have voted in favour of establishing a Business Improvement District (BID) in Altrincham
Martin Duff, Owner, Randalls Jewellery and
Chair of the Altrincham BID steering group