Birmingham Traders Vote in Favour of BID
Posted on 5th July 2012
Traders in a south Birmingham suburb have voted in favour of a second term for its Business Independent District (BID).
The original BID started in 2008; and recently over sixty-six percent of eligible firms voted in favour to continue the scheme in Kings Heath, with the second terms set to commence in April next year – and run for a five year period.
With traders voting in favour of the second term, the BID levy is expected to collect in excess of £600,000 from businesses around the High Street over five year period; which will be matched by funding from Birmingham City Council and other sources.
The money collected, will then be spent on local improvements to enhance the trading environment of the area, including developing iconic landmarks in Kings Heath, reducing crime, increasing business recycling and holding a full programme of events.
Following the results of the vote, the chairman of Kings Heath BID, Andy Savage, said: “This is truly a significant day for Kings Heath.
“Having made real progress in making Kings Heath a more attractive place to shop, work, live and invest, it was vital we kept up the momentum.
“Businesses voting for the continuation of the BID will signal another five years of progress and maintain Kings Heath’s position as the leading suburb in Birmingham.
“Through a mixture of business levies and matched funding, we’ve been able to pour £1.65 million into the local economy over the last five years and we are excited to continue this work.”
Whilst the second term of the BID will assist existing businesses in Kings Heath, and those looking to join the area; here at Nicklin Business Starter, we can assist businesses throughout the West Midlands and Black Country, by providing honest, professional and tailored financial advice.
The advice we provide has been designed to assist new and existing businesses grow and expand; and we will guide you on the journey of running a successful business – from planting the seed through to watching your idea grow into a fully formed, functioning business.