Chester Development Update: Paul Daniels and Tim Kenney, CH1 Chester BID Company
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CH1 Chester BID Company board members outline th case of Business Improvement District in Chester city centre
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Chester Development Update: Paul Daniels and Tim Kenney, CH1 Chester BID Company
- 2. I support the Business Improvement District initiative because I believe it will improve economic performance of our local marketplace and help local businesses maximise their potential. Paul Daniels CH1 Chester BID Board Chairman ch1chesterbid.co.uk
- 3. WHAT IS A BID? A BID IS A BUSINESS-LED AND BUSINESS-FUNDED COMPANY, FORMED TO IMPROVE THE ECONOMIC PERFORMANCE OF A DEFINED COMMERCIAL AREA.
- 4. WHY A BID?
- 5. ch1chesterbid.co.uk • Improve our economic performance • Response to business opinion • Collaboration of intellect, knowledge and resources • Business model that delivers sustainable growth WHY A BID? • Reverse the current decline from it’s current position of 59th
- 6. UK TOWNS AND CITIES HAVE BIDs. 170
- 9. BID funding reinvested directly and exclusively into City Centre.
- 10. HOW DOES A BID WORK?
- 11. ch1chesterbid.co.uk • BID ballot • BID levy • BID levy set at one of the lowest in the UK • Nil charge for businesses RV < 18,000 • BID levy will generate > £2.5m over 5 years • BID levy does not replace CWaC statutory services • Investment decisions are made by businesses in BID area. HOW DOES A BID WORK?
- 12. WHAT WILL A BID DELIVER FOR US?
- 13. ch1chesterbid.co.uk • Single Independent Private Sector Company • Delivering dedicated marketing campaigns • Adding new and quality events to our calendar • Making our city centre cleaner and safer • Delivering a greener and more attractive city centre • Delivering real cost savings for businesses • Increasing footfall, average spend and profitability WHAT WILL A BID DELIVER FOR US?
- 15. ch1chesterbid.co.uk WHO IS SUPPORTING THE BID?
- 17. ch1chesterbid.co.uk WHAT HAPPENS NEXT? PHASE 1 Funding PHASE 2 BID Board, Team and CCM PHASE 3 Commercial initiatives PHASE 4 Communication: events, website, social media PHASE 5 BID ballot PHASE 6 Deliver business plan