Sidcup could get £150,000 boost to economy under plans for BID
PUBLISHED: 09:58 27 October 2016 | UPDATED: 09:58 27 October 2016
The money would be spent on projects to boost the profile of the district
Sidcup could be given a £150,000 boost to its economy if plans for a new business improvement district (BID) are given the green light.
The BID has been proposed by the Sidcup Partners, a group of local representatives, to give businesses a key role in the future development of the area.
Organisations are being asked to vote on the BID’s creation, and formal ballot papers are being sent out to companies in the area.
Under the proposals, the £150,000 - raised by a levy on eligible firms - would be spent on projects and initiatives to make Sidcup a safe, clean, attractive and well-regarded destination for business, residents and visitors.
Projects under consideration include a regular programme of activity such as markets and networking events, joint procurement on common supplies to help save money, and planting and specialist cleaning in public areas.
Cabinet member for regeneration and growth Linda Bailey said: “This is another exciting move for Sidcup and future growth in our borough. It builds on the success of the council’s regeneration programme and the work of the In Store for Sidcup project.
“This hard work has helped to much improve market confidence in the town and reduced high street vacancies to a record low. I hope local businesses will get on board and see how they can continue to thrive by working together.”
Sue Petty, acting chairman for Sidcup Partners, added: “We believe the BID has the potential to help businesses in Sidcup, by providing them with a valuable chance to push forward and participate in a targeted change agenda that we strongly believe will make a tangible difference to the area and have wide-reaching benefits.
“The greater opportunities for promotion and representation this will afford will help Sidcup to prosper.”
Eligible businesses within the BID zone will receive formal ballot papers, which must be returned by Thursday, November 24 to the Electoral Reform Society.
The result of the ballot will be announced the following day. If approved, the BID levy will come into effect on April 1, 2017, for five years.
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