Newquay businesses have voted overwhelmingly in favour of a fourth term as a Business Improvement District (BID) with the strongest ever YES vote from the business community.
This means that at least £1.1million will now be invested in projects and services in Newquay, initiatives that the businesses themselves have prioritised.
84% of all businesses and organisations within Newquay that took part in the month-long postal ballot voted ‘yes’. As well as the yes vote, Newquay BID met the second ballot test of achieving 85% of the total rateable value of all the votes cast.
The ballot results were the strongest of all three previous terms demonstrating that despite the challenging economic climate, Newquay BID is providing value for money and is well respected by the town’s business community.
Securing another five-year term will allow the BID to continue to deliver a range of projects and services, including raising the profile of the town through marketing, hosting and enabling events to ensure Newquay remains vibrant and projects to make the town safer, more accessible, cleaner and more attractive as a place to work and invest.
The team at Newquay BID set out its aims and objectives for the site in a detailed document released in August. Following publication of the 26-page plan, it was up to business owners and staff working across Newquay’s diverse range of organisations to vote on whether they wanted the BID to continue for a fourth term.
Newquay BID has been operating since 2011 when businesses first voted to invest collectively in the scheme. Newquay BID operates as a not-for-profit company limited by guarantee and is overseen by a board of directors who are business leaders from within the town, all of whom give their time voluntarily.
Newquay BID chair Veryan Palmer, family director of The Headland Hotel, said: “It’s a fantastic result for Newquay and shows that businesses have recognised the value of Newquay BID, the work of the BID Manager, Mark Warren, and are happy to continue contributing funds to support the town’s projects that the businesses identified as part of the consultation process.
“We want to thank all of those who have supported us and contributed their time, funds and expertise towards the aim of sustaining Newquay as a leading year-round destination.”
The new five-year term will begin next April. The BID will then deliver the projects outlined in the business plan under four key themes: Marketing; Events; Safer, Cleaner and Greener; Business Support and Representation.
Business owners and staff across Newquay are looking forward to the BID’s new term and were complementary about the work carried out by the BID and its team.
David Weiss from Atlantic View Café on East Street said ‘We are really happy with Newquay BID and believe money is spent wisely to benefit Newquay and businesses alike. The events that are organised really help to increase footfall in our town which in turn boosts our takings and keeps the town thriving. I am delighted that Newquay BID has secured a fourth term.’
Jess Parkin from Johnny’s Tobacconist on Bank Street said ‘Mark’s retail background and knowledge has been a great asset to Newquay. The Disc app has massively increased business communication both through the app & over shopwatch radio. The rangers are the perfect solution to address anti-social behaviour in the town and have made a huge impact. It’s great news that other businesses agree and have voted overwhelmingly to support another five–year term.’
Jon Askey from the Heron Tennis Centre in Trenance said ‘The attitude and energy shown by Newquay BID is excellent, always supportive and responsive when needed. We are really seeing things happening, so I am delighted with that a new term has been secured.’
Ends
Notes to Editors
For further information, contact: Mark Warren on 07487 590966 or mark.warren@newquaybid.co.uk
For a copy of the business plan go to https://www.newquaybid.co.uk/about/newquay-bid-fourth-term/
BID fact file
A Business Improvement District (BID) scheme is a business led initiative supported by government legislation which gives local businesses the power to ‘raise funds locally to be spent locally’ on improving their trading environment or trading prospects. There are now over 345 BID schemes operating across the UK with eight in Cornwall.
BID schemes are ‘business led for business benefit’ and operate in clearly defined geographical areas, such as town centres and industrial estates. They are not local authority led schemes although Cornwall Council will be responsible for collecting the levy on the BID Company’s behalf now the BID is approved. Unlike business rates, all the money collected remains in Newquay to be spent on the priorities identified by businesses.
The process of developing a BID involves extensive consultation with businesses to establish what improvements they want and may be prepared to pay for.
The BID programme is primarily funded by the private sector although any non-domestic rate payer will be eligible to pay including organisations in the public or voluntary sector that have premises over a rateable value of £7,500 within the defined Newquay BID boundary.
The BID is funded through a levy on rateable value. For Newquay this is 1.6% of the rateable value of the premises, supplemented by additional contributions, either cash or in-kind that the BID secures.
BIDs are viewed by many organisations as a fair and affordable way of creating a ring-fenced fund for five years that is managed by business for business through a private sector led, not-for-profit company.
BIDs are about new investment not about placing additional tax burdens on businesses. Where BIDs are successful, businesses will see a return on their investment. There is clear evidence of the success of BID schemes which have led to safer, more accessible areas, increased footfall, higher spending and improved environments for businesses to trade.
Following consultation with businesses, a Final Proposal or ‘BID Manifesto’ is published which outlines what benefits the businesses will receive if the BID proceeds. A ballot is then held where each business has the opportunity to vote ‘yes’ or ‘no’ to the BID. For the BID to be approved, of those who vote, two tests must be met:
• More than 50% of those who vote must vote ‘yes’
• Of those ‘yes’ votes, they need to represent more than 50% of the total rateable value of all votes cast
If these conditions are fulfilled payment of the levy becomes mandatory for all businesses regardless of how they voted.
