Norwich Business Improvement  District (BID)

Mid Norfolk FSB have been approached by Stefan Gurney of Norwich City Council to ascertain their members thoughts regarding the proposed "Business Improvement District" (BID) for Norwich.

The proposal: Norwich City Council are planning to launch a scheme in March 2013, via which Business based in Norwich City Centre Partnership area will contribute and collaborate, there-by identifying and executing actions to improve trading conditions for those businesses based there-in. This will be referred to as the Norwich Business Improvement District (BID).

Detail: Business based within defined Norwich City Centre Partnership area (we have a map of this area, including postcodes) to vote July 2012 on accepting an increase of typically 1% in their business rates. If agreed, this increase will raise approx £600k per year, and will be used to improve trading conditions within that area. For a BID to go ahead >50% of all commercial (business rate paying) tenants within the area have to vote "yes", the 1% increase would then be mandatory, and applied to all business rate payers within the City Centre Partnership area for 5 years. Charities and businesses with a rateable value of > £10k will be exempt. Apparently there are approx 1,300 businesses in the City Centre Partnership area, with about 800 of those thought to be applicable (rate payers). One company one vote, including Aviva.

If you are a business rates payer, are you happy with what is proposed?

Would you be prepared to attend Norwich BID meetings on behalf of FSB?

Your thoughts would be greatly appreciated. Please email to Jeanette Thurtle

Norwich BID Newsletter Issue 1

Kind regards

Martin Lake

FSB Mid Norfolk Branch Chairman