- Date Monday, 2 December 2024
We are delighted to announce overwhelming support for five more years of Better Bankside, following a decisive YES vote from local businesses.
91% of you backed our ‘SAY YES TO BETTER’ campaign, with a 51% turnout. Thank you for your support!
The Business Improvement District’s (BID) renewal secures £14 million in investment for Bankside, driving our focus on creating innovative solutions to city challenges with our members, to build an economically stronger, greener, and happier Bankside.
Over the next five years, we will grow a resilient and inclusive local economy, prioritise green initiatives and invest in the wellbeing of Banksiders. The three pillars of our plan are:
- STRONGER – delivering a range of initiatives to support Bankside’s investability and its attractiveness to a growing workforce, boosting the area’s economic strength
- GREENER – creating innovative projects and services to cut carbon, reduce waste, improve air quality and boost biodiversity
- HAPPIER – supporting businesses to achieve their ESG goals, and leveraging our networks to create opportunities for all sectors of the community, co-creating a feelgood place with a unique sense of belonging.
A detailed programme of projects and services to be delivered by Better Bankside during our 2025-30 term will be developed with our member businesses in early 2025.
Nicole Gordon, CEO of Better Bankside, expressed her excitement about the renewed term:
“We are thrilled to have such a strong backing from Bankside’s business community. The ballot has been an incredibly affirmative process, and the rich and meaningful conversations we’ve had with our diverse mix of businesses, will shape the programme for the next five years. The work starts here, we look forward to putting our plans into action and delivering our best ever programme for 2025-30.”
Better Bankside’s new BID term comes at a crossroads for this lively, hugely creative and diverse area, which after 20 years of evolution, is about to embark on a further period of growth. With 20 major developments in the pipeline and a significant increase in its workforce predicted by 2030, our focus on delivery through local partnerships and relationships will be critical for maintaining and preserving Bankside’s treasured cultural identity and unique streetscape.
Donald Hyslop, Chair of Better Bankside said: “We are delighted that businesses in Bankside have once again given us this great endorsement to continue our work at Better Bankside. Over the last twenty years Bankside has seen huge change and growth and is one of London’s most vibrant districts. It has also remained true to its heritage as “London’s other side” continuing to attract a diverse range of businesses, communities and visitors. Partnerships, connections and conversations have been central to this success and we look forward to continuing our work, and making a difference, as we move forward in these challenging times.”
Our 2025-30 5-year term will begin on 1 April 2025. Its levy of 1.13% of businesses’ rateable value*, is ringfenced to deliver the projects and initiatives to benefit the Bankside area and its member businesses.
*Applicable only for businesses with a rateable value of £26,000 and over
