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@kings_lynn_bid www.kingslynnbid.com
The King’s Lynn
Business Improvement District
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@kings_lynn_bid www.kingslynnbid.com
Introduction
• Who we are
• What is a BID
• What’s Happened so Far
• Proposed Business Plan
• What Happens Next
• Q & A
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@kings_lynn_bid www.kingslynnbid.com
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 !
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@kings_lynn_bid www.kingslynnbid.com
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
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@kings_lynn_bid www.kingslynnbid.com
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?
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@kings_lynn_bid www.kingslynnbid.com
The Story so far
• Pre 2012 - lots of talk about BIDs
• Apr 2012 - Steering Group of Local Business
• May 12 – July 13 –Surveys/discussions etc
• July 2013 – Draft Business Plan published
• Nov 2013 - Business Plan finalised
• Dec 2013 - Approval to proceed
• Jan 2014 - Publicity and promotion
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@kings_lynn_bid www.kingslynnbid.com
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
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@kings_lynn_bid www.kingslynnbid.com
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
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@kings_lynn_bid www.kingslynnbid.com
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
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@kings_lynn_bid www.kingslynnbid.com
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
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@kings_lynn_bid www.kingslynnbid.com
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
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@kings_lynn_bid www.kingslynnbid.com
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.
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@kings_lynn_bid www.kingslynnbid.com
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
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@kings_lynn_bid www.kingslynnbid.com
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
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@kings_lynn_bid www.kingslynnbid.com
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
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@kings_lynn_bid www.kingslynnbid.com
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.
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@kings_lynn_bid www.kingslynnbid.com
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.
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@kings_lynn_bid www.kingslynnbid.com
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 10th – Final Voting Date