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Plans for Business Improvement District move forward

 
Created on 08/03/2019 @ 11:02
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Plans to establish a Business Improvement District in Newtown are moving forward with local businesses being asked for their views on trading conditions.

Revive & Thrive, itself based in Newtown, has been commissioned by Powys County Council and Open Newtown with funding from Welsh Government and Open Newtown, to develop the feasibility study, a key aspect of which is to understand business views on whether or not they would like to see the BID progress to ballot later on this year.

"There are already around 300 BIDs across the UK and in 2018 the Welsh Government released funding for up to 10 new BIDs to be developed across Wales," said Mark Barnes of Revive & Thrive.

BIDs are business-led and business-funded regeneration projects, fixed for up to five years, and they generally deliver projects designed to improve the trading environments for the business communities that they represent.

"The current business survey is designed to identify the challenges facing businesses in Newtown and to begin identifying opportunities and solutions that a BID could deliver," said Mr Barnes.

BIDs are funded by a small levy imposed on businesses which is based on the rateable value of the properties they occupy – this is typically set at between one per cent and two per cent.

Mr Barnes said: "The income raised from a BID levy for Newtown could see a range of schemes delivered, from initiatives designed to reduce crime and anti-social behaviour to projects aimed at encouraging visitors into the town rather than driving straight past it and will link in with other initiatives already taking place in the town.

"The BID, if it progresses to a ballot, will be built around the priorities of the Newtown business community, which is why Revive & Thrive and the BID Steering Group, comprising various business groups and stakeholders, are encouraging all businesses to take part in the survey."

The survey can be found by following this link: tinyurl.com/NewtownBiz and businesses can find out more information on the Revive & Thrive website or by emailing: newtown@reviveandthrive.co.uk

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