What is Positively Putney BID?
I thought it would be helpful to share with the forum what a Business Improvement is and more specifically Positively Putney BID, and what we deliver. A Business Improvement District (BID) is a business-led organisation in a defined geographical area where local businesses have voted to invest collectively to improve their environment. BIDs are funded by a mandatory levy on all eligible businesses following a successful ballot. Businesses vote based on a business plan which clearly sets out what additional services will be provided. It also details the size and scope of the BID, who is liable for the levy, the amount of levy to be collected and how it is calculated.The local authority electoral services manages the ballot process. For the ballot to be successful it has to meet two tests: more than 50% of votes cast must be in favour of the BID and the ‘yes’ vote must represent more than 50% of the aggregate rateable value of votes cast. The two measures are in place to make it fair for both independents and national businesses, big and small. The BID levy, the primary funding mechanism, becomes mandatory on all defined ratepayers and is enforceable as per business rates collection. The levy is collected by the council and then transferred to the BID Company.In Putney the first ballot was in 2016, and then again in 2021. In November 2021, 396 businesses within Putney town centre were balloted, and 204 ballot papers returned. 85% of businesses by number, 93% of businesses by aggregate rateable value with a 52% turn out voted for Positively Putney to continue for a second term. This is a fairly strong mandate that businesses felt we had done a good job in our first five-year term and wanted us to continue. The BID2 term started on 1st April 2022.The work of the Positively Putney BID is managed by me on a day-to-day basis but led by a Board of Directors. These are managers and owners of Putney businesses who give their time to provide strategic and financial guidance. Wandsworth Council and Putney Society also have a representative on the board. For this term we have divided our work into three streams.1) Promoting Putney2) Enhancing Putney3) Supporting Putney businesses For those interested our full business plan is available to read on our website www.positivelyputney.co.uk. It won't let me put a link here. I am always very happy to meet with residents to discuss issues or ideas that they have for Putney town centre. Town centres across the country are changing and adapting and we need to keep Putney town centre thriving and offering what the local people want. We do not own any property so we cannot simply bring in all your favourite businesses but we can sometimes influence landlord decisions. At the moment we have high vacancy in the town centre due to a few absent landlords, landlords waiting to develop sites and landlords waiting to sign contracts. However, we have also had many new businesses open in the last year and have lots of wonderful businesses that have survived the pandemic and would love you to spend with them. We have a number of fun events coming up and new reasons to come into Putney. Halloween Trick or Treat on Friday 28th and Sat 29th October, Christmas light switch on Friday 25th November, and a synthetic ice rink from 26th Nov to 4th December. I have to admit I don't often come onto this forum - but if you want to stay in touch with what we do please follow us on social media or sign up to our monthly newsletter.
Nicola Grant ● 978d13 Comments