By Charlotte Webster-
Communities across the uk are being encouraged to bid for up to £50,000 to improve the attractive for business, High Streets Minister Jake Berry MP has today confirmed.
The fund up for grabs is a positive contribution to
The latest round of the £500,000 British Improvement Districts (BIDs) Loan Fund pledges to support business owners and local leaders to set-up a BID, enabling communities to come together to deliver additional local services. The fund will also be used to upgrade commercial areas for the benefit of business. The invitation is an attractive one to communities across the Uk, providing an incentive to businesses and leaders in various communities to bid for the fund to improve their communities. Improving the attractiveness of business may include creating clubs for youths to learn about business, including educational building or even setting up small businesses in locations where other big and highly valued businesses exist.
Altrincham to Watford, Business Improvement Districts serve as a tried and tested model of how local business can work together to realise the potential of towns and high streets by engaging strategically with local authorities, developers and communities. The bid which was established in April 2016 and run by businesses for businesses, with a Board of ten local representatives predominantly from the private sector. They oversee the work of the BID Team. The Board and BID Team are supported by two Advisory Groups covering Marketing & Events and Business & Operations.
Altrincham BID’s Business Plan covers three main themes, and over its five-year term, projects will be developed and delivered to drive improvement in each area. At the core of its objective is the goal of providing visitors with more reasons to visit more often; creating a strong and stylish consumer identity for Altrincham; promoting the breadth of retail and leisure offer across the town and delivering a high quality cultural offer through events and festivals to attract and retain visitors.
The project managers also ensure that shoppers and local residents feel welcome in the town, thereby placing the town centre at the core of the community. By creating powerful and lasting networks with local people, the fund put to effect in Altrincham has created a greater atmosphere of cohesion in the area that brings together the best ideas for overall progress in the community.
High Streets Minister Jake Berry MP said:
BIDs have a proven track record of upgrading commercial areas to enable business owners and entrepreneurs in our town centres and high streets to thrive.
Whether through promoting longer opening hours, more security for shops or pedestrianised shopping districts, BIDs are a go-to vehicle through which you can reimagine your high street or town centre.
Those on the ground know what works. Our Loan Fund is designed to provide them with the means to drive regeneration forward and meet local needs.
British BIDs, a BIDs sector body, hold the contract of managing and operating the fund until September 2020.
Professor Christopher Turner, British Bids Chief Executive said:
Business Improvement Districts have been shown to be hugely successful in regenerating town centres.
There are now over 300 BIDs across the UK and the Loan Fund that the government set up has been vital in helping key BIDs to emerge.
Thus far 29 loans of between £10,000 and £50,000 have been allocated through the British BIDs application process, and BIDs have been able to use this loan funding to develop their proposals and support the ballot process.