Welcome to the King’s Lynn BID campaign website.
A Business Improvement District (BID) is an area within which local businesses agree, through a local ballot, to pay a small additional charge on their business rates. We estimate that something like 60% of businesses in King’s Lynn town centre would pay less than £1.00 per day as their contribution. These funds would be managed by an independent business-led company.
This company seeks to guarantee, improve and enhance services and environmental conditions of the defined BID geographic area of commercial activity.
A BID is also a way to promote and bring more people into our town
A vote amongst businesses in King’s Lynn town centre (9/11/16) has resulted in a yes for King’s Lynn BID…find out what happens next here
The 9 month campaign and month long vote a turnout of 40.3% which resulted in an 53.39% yes vote for the Business Improvement District, and the secondary count based on rateable value saw the vote recorded as a 54.88% vote.
BID Steering group member Darren Taylor said “This result is great news for the town and I’m absolutely delighted. The BID will bring increased investment into the town centre and gives every business, regardless of size, a bigger voice. I think the town can proud of what we’ve done and we can look forward positively to the next few years.
I’d like to place on record my thanks to the BID steering group and its supporters, all of whom have worked so tirelessly over the last few years.
The legislation states that for a BID to be introduced there needs to be a majority of all who vote, in favour of the proposal and of all of those, the total rateable value of all these businesses is calculated and needs to be a majority .
The BID will see businesses pay an additional 1.5% of their business rates and it is estimated that around 60% of town centre businesses will pay less than £1 a day as their contribution and will generate around 1.5million over 5 years to improve and enhance services and environmental conditions of this defined geographic area of the town centre.
Lucy Golding, owner of Market Bistro said “I’m absolutely delighted on the Yes vote outcome this time around! King’s Lynn is a truly wonderful town, full of great businesses and now we will have more funds and be able to attract more people to visit all year round. You just need to look at Bury St Edmund’s to see all the improvements they have made since their successful BID vote”
In the UK there are now over 220 BIDs in place, including Norwich, Cambridge, Bury, Ipswich, Great Yarmouth and Lowestoft.