Royal Tunbridge Wells Together is starting feasibility work to see if local businesses support the idea of a Business Improvement District (BID) for the town.
BIDs, are business led partnerships, created through a ballot process to deliver improvements and/or additional services for businesses within a defined geographical area. There are around 300 Business Improvement Districts in the UK already. BID projects are always in addition to local authority services, not replacements for them.
In a Business Improvement District, a levy is paid by business rate payers. This levy, typically between 1 and 2% of the business properties rateable value, is used to develop projects which will benefit businesses in the local area. Businesses elect a Board from amongst themselves and direct how the funds should be spent.
Please take a few minutes to complete this questionnaire which will help review whether a BID would be the best way to deliver your business priorities for the town centre in the future.
Should the feasibility study show that our business community is keen on adopting a BID, your feedback will help start to shape a BID Business Plan.
DISCLAIMER:This data is collected on behalf of Royal Tunbridge Wells Together solely for the purpose of research into the feasibility of a Business Improvement District for Royal Tunbridge Wells. Individual responses will not be shared with any third party without prior consent of the participant and you can request your response be altered or withdrawn at any time by contacting Royal Tunbridge Wells Together directly.