Sheffield BID gets YES vote from City Centre Businesses

Sheffield BID gets YES vote from City Centre Businesses

13 March 2015

Sheffield city businesses have voted YES to a Business Improvement District with a 78% majority and 86% by rateable value. 39% of the 500 plus businesses voted which is within the national average.

BID Champion Chair and Managing Director of John Lewis, James Prince commented: “This is a great result for Sheffield city centre. Business organisations will now have the resource to work with Sheffield City Council to deliver events and to implement initiatives detailed within the Sheffield BID prospectus.

“The BID Champion group can now work towards appointing a BID Manager and to setting up a new Board. I am delighted that so many businesses have supported this. I believe we have already benefitted from cross sector working, and that has given us a great foundation to really make a difference to how Sheffield city centre is perceived, to make it more attractive to visitors, and to enhance the business environment so everyone benefits.”

Sheffield BID will represent over 2,000 businesses in the city centre and the new Board will be made up of members from each business sector, from culture, education, transport, police, Sheffield City Council as well residents, and businesses who are not paying the levy and from the hospitality sector.

The new BID company will be set up by 1st August 2015 and will start to operate and implement activity from then. In the intervening period the current BID Champion board will appoint the new BID Manager and put preparatory plans in place.

Sheffield Business Improvement District (BID). 500+ businesses with a rateable value of £40,000 have been eligible to vote whether to pay an additional 1% levy on their business rates that would raise £4 million over 5 years (£800,000 a year).

The ‘Yes’ vote is supported by Sheffield City Council whose commitment to Sheffield BID is demonstrated by agreeing to secure core services for at least the initial 5 year BID period.

The Sheffield BID boundary is projected to be what is commonly known as the ‘old’ inner city centre ring road. A map indicating the BID area can be viewed at www.sheffieldbid.com

Follow Sheffield BID on Twitter at @SheffieldBID or visit the website www.sheffieldbid.com for more information.

There are over 160 BIDs already operating in England and the cities of Manchester, Newcastle, Nottingham, Birmingham and Liverpool already operate successful city centre BIDs. Details of all BIDs and BID ballot results can be found at www.BritishBIDs.info