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The King’s Lynn Business Improvement District

The King’s Lynn Business Improvement District. Introduction. Who we are What is a BID What’s Happened so Far Proposed Business Plan What Happens Next Q & A. Who are we ?. A Group of Business in King’s Lynn Keen to do more to improve the Town Working towards a Common Goal

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The King’s Lynn Business Improvement District

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  1. The King’s Lynn • Business Improvement District

  2. Introduction • Who we are • What is a BID • What’s Happened so Far • Proposed Business Plan • What Happens Next • Q & A

  3. Who are we ? • A Group of Business in King’s Lynn • Keen to do more to improve the Town • Working towards a Common Goal • People like you !

  4. Who are we ?

  5. What is a BID? • A Business Improvement District is defined by Legislation • Gives Businesses greater control • Enabled Businesses to raise their own money • An area defined by Businesses • Managed by Businesses • For the benefit of Businesses • Voted for by Businesses

  6. What is a BID? • A BID is an opportunity for everyone who runs a business in King’s Lynn town centre to make a positive contribution to the town…and to make more money. • Why else would we do it?

  7. The Story so far • Pre 2012 - lots of talk about BIDs • Apr 2012 - Steering Group of Local Business • May 12 – July 13 –Surveys/discussions etc • July 2013 – Draft Business Plan published • Nov 2013 - Business Plan finalised • Dec 2013 - Approval to proceed • Jan 2014 - Publicity and promotion

  8. Business Plan • Aims, Objectives and Key Priority areas for Kings Lynn Businesses • Identifies the BID area • Identifies the costs and who would pay • Identified a series of projects • About the BID company and It’s responsibilities • Service Level Agreements – LA, Police +others

  9. Key Issues • Changes to car parking arrangements within the Town Centre • Improve town centre PR • Stand up for businesses • Increase footfall into the town centre • Maintain and develop King’s Lynn as a tourist hub • Improve communications on town centre matters

  10. Key Issues • Create an environment to encourage a wider retail mix • Generate operational cost savings for town centre businesses • Enhance the visitor experience through a revitalised streetscape • Develop a strong collective voice to shape public and commercial policy, with a particular focus on the visitor experience in the town

  11. Aims & Objectives To create a vibrant town we can all be proud of, where businesses prosper, our communities thrive and for visitors, a destination of choice. Improve Marketing, Promotion and Events within the Town Improve Town Centre Access and Movement Provide a Better Quality Place Increase Profitability for our Members Speak up for Businesses

  12. Projects Improve Marketing, Promotion and Events within the Town • Comprehensive marketing plan • Town Centre loyalty card and shopping voucher scheme. • Regular Town Centre promotions, themed weeks and a ‘shop local’ scheme. • Develop car parking and local transport promotional activities

  13. Projects Improve Town Centre Access and Movement • Work with partners to improve parking provision in the area and the production of a parking guide and signage, including a ‘How to get to’ guide • Provide large town maps in key location such as the multi-storey car park, bus and train station and other key locations within the town.

  14. Projects Improving the Quality of the BID Area • Promote the area for inward investment, new office occupiers and retailers. • Working with the local authority to revitalise the markets within the town. • Work with partners to introduce family friendly facilities i.e. weekend shopper crèche • Investigate premises improvement grants

  15. Projects Increase Profitability for our Members • One Stop Shop’ assistance from the King’s Lynn BID team on any matters relating to trading • Provide water and energy audits for businesses • Introduce a town wide waste collection and recycling to reduce the costs • Identify opportunities to develop further radio link and CCTV monitoring across the town

  16. Projects Speak up for Businesses • Act as a voice between businesses and other key stakeholders within the town on key issues. • Lobby for additional funds; apply for funding and grants to invest in King’s Lynn BID area. • Representing business views on key projects within the BID area or on projects • Creation of a town centre newsletter for all businesses

  17. Who will Pay ? • All Businesses within the proposed BID area • The person responsible for the Business Rate • Exemption - Places of worship and non-retail charities (under 7.5k) • Government Legislation and Regulations govern the BID process. As such, if a majority YES vote has been achieved, the BID levy becomes payable by all defined ratepayers.

  18. BID Area

  19. How Much? • Businesses with a rateable value of £7,500 or less will pay £100 per annum • Business with a rateable value of over £7,500 will pay 1.5% of their rateable value. • Small Premises • Rateable Value £10,000 • Annual BID Levy £150 • Medium Premises • Rateable Value £25,000 • Annual BID Levy £375 • Large Premises • Rateable Value £100,000 • Annual BID Levy £1,500

  20. What Next • Jan – April 14 – Promote Proposed BID • Feb 2014 – Formally Announce Ballot Date • March 14 - Issue Ballot Papers • Mar 2014 – Go to Vote • April 10th – Final Voting Date

  21. Q & A Questions and Answers

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