We are delighted to announce that Better Bankside has secured another five year term following an overwhelming endorsement from local businesses in the ballot.
For the last four weeks, businesses in this neighbourhood have been voting on the future of Better Bankside. 92% of businesses voted YES to another five years of Better Bankside. This is our largest ever ballot majority since the BID was established in 2005.
The result secures £11m investment over the next five years to deliver projects and services that improve the neighbourhood. The BID boundary will be extended from April 2020, welcoming more businesses into the Better Bankside community.
Commenting on the ballot, Better Bankside CEO, Peter Williams, said:
“Our offer to meet each of our 1,000 member businesses at their premises resulted in fabulous feedback on the area and our operations. From new occupiers to those that are already very involved in our programme, it has been a rewarding experience. Our themes of responsible business and resilient communities resonated, and there clearly is an appetite for the kind of change we advocate and support. 621 votes cast is a great response from our membership and gives us a clear mandate for the next five years.”
All Business Improvement Districts (BIDs) are required to go to ballot every five years. In order to secure a new term, a majority must vote in favour, both in terms of the numbers of businesses that vote, and the aggregate Rateable Value (RV). 55% of eligible businesses voted in the ballot, a larger turnout than our last ballot (42%). Of these 92% by number were in favour of a renewal, and 97% by aggregate RV.
Our fourth five year term will begin on 1 April 2020, marking the next chapter in Bankside’s story.