The current Romford BID term is due to end in August 2023.
As such, we have now begun the process of renewal which will culminate in a vote by businesses in a ballot to be held from 20th April to 18th May 2023.
We have achieved a lot together over the first term, and with your involvement, we can look ahead to another successful five years. Together, we can build on what we have already accomplished and ensure that our business community benefits from new opportunities and drive the future development of our Town.
Over the coming weeks, we will regularly share Renewal newsletters to keep you updated, hosting sessions to enable you to provide your input and having meetings with you individually to hear from you our levy payers.
The ballot is being conducted entirely by post by the Independent Scrutineer, Civica Election Services. Ballot papers will be sent to those eligible to vote on 18th April 2023 for return to them by no later than 5pm on 18th May 2023.
For further information with regards to the ballot process please click this link.
To read the 5-year business plan being voted on click here.
If you do not receive your ballot papers or have any questions please contact Julie Frost via email firstname.lastname@example.org or by phone 07494 869512
What is a BID?
A Business Improvement District (BID) is a defined geographical area within which the businesses vote to invest collectively in local improvements to enhance their trading environment. The mechanism for developing and operating a BID are governed by the BID Regulations 2004 which are part of the Local Government Act 2003. There are over 315 established BIDs in the UK operating on a five-year term!
The BID Business Plan identifies key objectives to be addressed, with the BID team and businesses delivering projects against action plans to fulfil these objectives. BIDs are business led with the Board and Committees consisting of volunteers from BID Businesses.
A key aspect of a BID is to ensure that anything delivered by the BID to the area is additional to any services provided by public bodies. As part of the development of the BID Proposal and Business Plan, baseline statements are drawn up with the councils and the police, identifying the services they agree to provide during the life of the BID.
Establishing close working relationships with the councils, police authority and other recognised agencies also means that the needs of the local business community can be better understood and acted upon.
Towards the end of each term, a BID can be renewed by proposing a new Business Plan which businesses vote on to confirm whether they would like the BID to continue.
What happens if the BID is not renewed?
Many of the improvements, activities and services seen in Romford would not have been possible without businesses coming together under the auspices of the BID to drive positive change and create an environment which is not only attractive to visitors but is an excellent place to do business.
If businesses vote not to continue for a second term, the BID will cease operations as of November 2023.
All projects and activities delivered by the BID to support businesses including events such as Celebrate the Street, sponsorship of the Christmas Light Switch On Event, DISC software for the evening economy, Street Triage, hanging baskets and planters, Town Ambassadors, marketing support and other projects will stop.
How does renewal work?
Romford is a Business Improvement District both funded and governed by businesses located in the Romford BID boundary. The first Romford BID term started in 2018 and has carried out a five-year plan to support businesses, act as a collective voice for them and continue to work on raising the profile of Romford. The current Romford BID term is due to end on 4th September 2023 and must undergo what is called a 'Renewal Ballot'.
Businesses who are over a certain rateable value within the BID area will be asked to vote in favour of supporting another five-year term. The outcome of the Renewal Vote will affect the future of the Romford business community.