Cardiff city centre businesses are putting together plans for a new Business Improvement District, worth £7.5 million in business priorities over the first five years.
The proposal will focus on encouraging people to come in to the city centre, stay for longer and spend more in the local businesses. The proposal seeks to improve the ability of business to harness Cardiff’s position as one of the UK’s fastest growing cities.
The proposal has been presented by business task group headed by Simon Philips of Marks and Spencer, who stated:
“We believe that the time is right for a Cardiff Business Improvement District, to encourage people to visit more often, stay longer and invest more in the city centre. Cardiff is one of the last remaining UK cities without a BID and whilst our city centre is performing well, our competitors are adopting BID’s to become more organised and are investing significantly in making their city centres great places to visit, meet, study, work and invest. The BID is a powerful way to develop and manage the environment in which we all operate, providing business leadership for an area and acting as a stimulus for visible improvements, but importantly it also provides a united voice of influence and opinion. We want to hear even more views from businesses and hope the ideas in this draft plan will prompt greater discussion leading towards a ballot of businesses and a convincing YES vote in June 2016”.
The Business Improvement District is funded by the businesses supporting it. At present 970 eligible businesses within the proposed area will be receiving a copy of the draft plan. The aim is to increase awareness and generate further interest in the proposal, moving to a vote in June 2016. Two business meetings are scheduled to discuss the draft plan, one for 8.30am and another for 6pm on Thursday 25th February in the Motorpoint Arena.
Further information can be found at http://cardiffbid.com/