BID Proposal 2022 – 2027
Vote Yes in June 2022 to keep High Wycombe BID for another 5-year term.
High Wycombe BID (HWBIDCo) is seeking to continue for a third term.
Building on the success of the past five years and in consultation with local businesses, we have published our new five-year Business Plan.
We are now looking to secure your vote for a third term so that we can continue to provide a collective voice for High Wycombe businesses and deliver key projects and services and ensure that High Wycombe remains and grows as a vibrant and professionally managed destination.
Without a successful renewal ballot, all BID activities and services will cease in September 2022 and will not be replaced. This would mark a huge step backwards for the town centre as there is no other organisation to attract and deliver this level of investment.
Working in close consultation with our businesses and many other partners at local and regional levels, we have laid out our new five-year vision for the town centre under five key themes: Better for Business; Safe and Secure; Marketing the Town; Festivals and Events and Enhance and Evolve.
More information can be found in our Business Plan (2022 – 2027) which can be viewed or downloaded below.
If you have any difficulties accessing information or documentation, please don’t hesitate to contact the BID team.
The Business Plan (2022 – 2027)
Ballot Proposal – FAQs
When is the High Wycombe BID (HWBIDCo) Ballot?
The Ballot Papers are issued on 9 June 2022 and the Ballot will run until 7 July 2022. The result will be announced on 8 July 2022.
What is a BID?
A BID (Business Improvement District) is a not-for-profit organisation funded by and working for levy paying businesses within a defined area of a town or city centre, and/or industrial estate. There are now over 330 BIDs operating in the UK.
The BID is an independent organisation, working for the collective benefit of businesses in the area. BID’s provide additional services to the area and aren’t to be confused with local authorities who provide statutory services.
Who funds HWBIDCo?
The BID is funded by businesses within the BID’s defined operating area, although discounts apply to businesses within a shopping centre who already pay a management fee and charges do not apply for small businesses with a rateable value of less that £2,500.
Businesses pay into the BID through an annual levy and these funds are spent on delivering improvements to the town in line with the BID’s business plan.
Why are you asking businesses for their views?
The BID is a business-led organisation. Funded by businesses and working for businesses, it is imperative businesses give their feedback to ensure projects are effective and beneficial to the business community. The BID board is representative of the business community and all directors are voluntary.
Why does the BID have to hold a renewal ballot?
Under BID legislation, all BID’s are required to hold a ballot every 5 years, giving businesses the opportunity to vote if they’d like their town or city to be a Business Improvement District.
What determines if the ballot is a success?
In order for High Wycombe BID to continue operating for another 5-year term the ballot needs to be successful on two counts. The majority of businesses who vote must vote yes. Of the businesses who vote in favour of the BID, their combined rateable value must exceed the combined rateable value of the businesses that vote no.
What happens if businesses vote against the BID?
If businesses do not vote to keep High Wycombe BID, the BID company will cease to exist on 30th September 2022. As a consequence, the BID’s projects, services and events will all stop, and High Wycombe will lose over £1.5m of investment over the next 5 years.
Who will carry out the BID’s services, projects and events if the BID isn’t renewed?
No one. There is no alternative organisation to High Wycombe BID.
If I vote no in the ballot, do I still have to pay the BID levy?
If businesses vote in favour of the BID in the ballot in June 2022, all businesses within the defined operating area will be required to pay the annual levy, regardless of whether they voted for or against the BID.
How much do I have to pay?
The BID is proposing 1.1% of rateable value (or 0.9% for businesses in a Shopping Centre), businesses with a rateable value of less than £2,500 will not pay the levy.
What happens if I don’t vote in the BID’s ballot in June 2022?
Businesses do not have to vote in the ballot. However, if businesses do not vote yes to keep the BID, the BID will cease to exist from 30th September 2022.
Who governs the BID?
High Wycombe BID is governed by a Board of voluntary Directors representing levy paying businesses and is chaired by Mark Coldham. The Board is responsible for the strategic and financial management of the BID. You can view the Board here
What has the BID achieved in its second term?
In 2017, businesses told the BID they had four main priorities for its second term, namely: ‘Well Represented’, ‘Well Managed’, ‘Thriving Business’ and ‘Busy’ looking at increasing footfall, raising the town’s profile and contributing to a safer, cleaner and more vibrant trading environment for businesses making High Wycombe a great place to visit, shop, work and play. All of the BID’s initiatives have been developed and delivered to address these key areas of work.