Nottingham Leisure BID
Raising the standards
for customers and business
Frequently Asked Questions
FAQs
What is a BID?
The aim of a Business Improvement District (BID) is to fundamentally change the trading environment within a defined area by working in partnership with businesses, property owners, the local authority and the police. Businesses will be able to solve issues that have previously acted as a barrier to business growth. A BID will add value to your bottom line by improving your business trading environment, attracting more visitors and encouraging those who come to stay longer. Businesses within a defined area identify projects or services that will transform their area and agree on the level of funds which they will pay to make it happen. The duration of the BID is not more than five years.
Is it another tax?
No, the money does not go to the Central Government or the City Council. Funds are ONLY for the projects agreed and voted for by the participating businesses.
Why should I pay for something that I already pay for through business rates?
Only a small percentage of your business rates return to the City Council. This, together with council tax, pays for statutory and non-statutory services such as cleansing, lighting, policing etc. The BID levy is a specific business investment for projects identified and controlled by the businesses. It provides additional improvements and benefits to services already provided by the City Council and Police. The BID will ensure that services and investment will continue at the current level and negotiate improvements on your behalf where necessary.
Not only does the BID keep every pound, you get to decide how it should be spent.
What will a BID do for me in Nottingham?
Although Nottingham is a well visited City for shopping, visitor numbers for the evening offer are declining due to a number of factors which we are unable to control as individual businesses. Surveys carried out confirmed that 70% of visitors do not feel safe at night, choosing to leave early to avoid any conflict. Only by working together can we reverse this trend and change this perception whilst competing with new developments around the Waterfront and other local towns and cities which are growing their leisure offer. The Nottingham BID, is for those businesses who hold an alcohol or late night food licence only – and the projects are to benefit those businesses only.
The Nottingham Leisure BID seeks to make the City centre:
- Better promoted
- Safer
- More attractive
- More welcoming and accessible
Who will manage the BID?
A new BID private limited company, which is limited by guarantee and has its own management board will be established. This, not-for-profit company is independent and 100% accountable to you. Its board members are made up of individuals who represent the cross section of business sectors which contribute to the levy.
How much will we have to pay?
There are no right or wrong figures regarding how much this levy should be nationally, but these are usually between 1% and 2%, with lower and upper end limits. The levy has been agreed based on the projects the BID wants to deliver.
By investing collectively as a community, our money can work harder and smarter through shared costs and resources In Nottingham, we have based our budget on 1½% of rateable value, with a minimum amount payable of £150 pa and a maximum amount payable of £5,000, with that, we will be able to invest £250,000 every year on projects. For example a restaurant with a rateable value of £30,000 will pay only £450 per year – that is less than £9 every week!
What else could you buy with your investment, which would give you this amount to spend every year?�
How will my business benefit?
There are many BID’s operating throughout England, so we are able to learn much about what works and what the impact of projects are in a BID area. Birmingham Broad Street BID operating since 2005 and very similar in make up to our Nottingham BID, saw a 60% reduction in crime in the evening in its first year of operation, subsequent positive marketing and a resulting significant increase in trade for pubs and clubs. Such has been its success they have just created a second BID area, focussed on the retail shopping area.
The Nottingham BID will improve your profitability through collective action, transforming the Leisure offer, reversing the negative image, increasing footfall, spend and visit time.
It is fully supported by the City Council, who have invested in its development as part of its commitment to you as a business and the future of the City.
When will it happen?
Over the next few weeks, we will develop a business plan from your identified priorities. You will be presented with this in September, together with a confidential voting paper asking whether you want it to go ahead. It is important that you return this vote for the BID to go ahead. In October the results will be announced. If the majority of licensed businesses vote for the BID, all licensed businesses in the area will be subject to the levy. This overcomes the problem of a few businesses paying for improvements that benefit many.
We are hoping to start delivering projects in time for this Christmas!
Who is entitled to vote for the BID?
The person(s), registered company or organisation who is the ratepayer for non-domestic rates of a premises within the Business Improvement Area which holds a premises licence to sell alcohol, late night food or entertainment, as at 1st October 2007.
If the business is in joint names, a registered Company or a charity/non profit making organisation, the person nominated will be the only person entitled to vote.
How will the voting work?
The ballot has to meet two tests. Firstly, there must be a simple majority (above 50%) of those eligible to vote. Secondly, those voting in favour must represent a majority of the aggregate rateable value of businesses voting.
The full ballot procedure and ballot papers will be forwarded to those ratepayers who are eligible to vote.
If the ballot meets the two tests and there is a YES vote of those ratepayers eligible to vote, the Council can issue BID levy accounts and Nottingham Leisure BID can proceed to implement the BID proposals in the Business Plan.
When is it expected that the Ballot paper will be issued?
The Ballot paper will be issued on 27th September 2007, and you should receive this by 1st October at the latest.
When is the Ballot date?
The Ballot is between 27th September and 26th October 2007. All ballot papers must be returned to ERS, London by 26th October by 5 pm (this is the Ballot date) Any votes received after that date will not be counted.
Who is liable to pay a BID levy?
Any person, registered company or charity/non profit-making organisation is liable for the Bid levy if they are the occupier/leaseholder of a property within the BID area, to trades or is required to trade with a premise licence.
Which rateable value will you be using to calculate my BID levy?
The rateable value used to calculate your BID levy has been fixed as at 1st October 2007. This rateable value will be used to calculate your BID levy. If your rateable value goes down on appeal to the Valuation Office Agency, your BID levy will not be affected.
There will be an annual increase of 3% in line with inflation. New properties, splits and mergers, will be fixed at the date it was brought in to the non-domestic rating list. In short, no reduction or increase in rateable value will affect the BID levy.
How is the Bid levy payable?
Nottingham City Council is the collecting agent for the levy. They will send you a Bid levy account for you to pay on behalf of the BID Company. The BID levy is paid direct to Nottingham City Council within 14 days of the account being sent to you.
There is no instalment facility but if you are experiencing difficulty in paying the account, you can telephone the number on the invoice to discuss payment.
The money collected by the City Council on behalf of the BID Company will be set aside and handed over in its entirety. The BID is not being charged for this facility.
What happens if my property no longer requires a Premises Licence or ceases trading?
If the property is removed from the rating list, ceases trading or no longer requires a premises licence to conduct its business, you will not have to pay a BID levy from that date. You will however be liable for the BID levy until that date. You will have to telephone the number shown on the Levy Invoice providing details of the date you vacate your property and arrange for a final account to be sent to you together with any refund if you have paid your BID levy to the end of the financial year.
How can I get involved or find out more?
This is a business led initiative and like you we are running businesses of our own. We therefore need as much help as possible, both before and after the vote to make sure it is a success. The more help we have, the less time we need to commit. Even one hour a week, is a small investment in time for the huge return on offer!
Contact Pat Parkes, your BID Development Manager on 07852 999335 or bidmanager@nottinghambid.co.uk
