We have now published our Business proposal. Notice of Ballot will be posted out on the 28th May advising you of your right to vote. A formal 28-day postal ballot will take place from 11th June, with a deadline of 9th July to return your voting papers, and to declare the result around 10th July. If successful, we would commence 1st October.
The BID Area
The central area of High Wycombe is an obvious focus for our activities but we need to define our boundary so that businesses know who is liable for the levy. Our boundary will stretch from Desborough Road in the west to Easton Street in the east. North will follow the railway but include Morrisons. South will include BNU.
The BID Levy
The starting point for most BID proposals is a levy of 1% on rateable value. We think that this is sufficient in High Wycombe to achieve the things that we want to do and to make a difference. Not everything costs money – some of it is about creating the right management mechanism to provide you with a one-stop-shop and to make good use of free resources.
A document of supplementary BID Rules and Regs for our Business Proposal can be found here
The BID Business Plan
We have created a business plan that provides a realistic commercial return on your annual levy investment. As you will see, we have widely consulted, and agreed upon, five key building blocks for our plan. These are as follows:
- The management of the town
- Improving the offer of the town
- Keeping businesses and attracting new ones
- Commercial space
- Changing perceptions of High Wycombe
Some key facts are as follows:
- There are over 650 businesses in the BID area
- The BID levy will generate over £250,000 per year to be reinvested in growing business in High Wycombe
- 30% of businesses will pay less than £100 per year as their formal levy
We will actively Blog about the projects included to give you more of an insight into the plan. Also check out our Facebook page for other information, reaction and material on the projects that we are continuing to deliver.
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