Why Establish a Business Improvement District?

Why Establish a Business Improvement District?

  1. £4m investment into the King’s Road
  2. COVID-19 recovery
  3. Encouraging footfall, increasing dwell time and spend
  4. A collective business voice on issues that matter

Delivery Plan

When the majority of eligible businesses vote to establish a Business Improvement District, they create a legal vehicle and give it legitimacy as the voice of local businesses. Throughout the UK, this combination has proved a powerful force for delivery of change.

A BID is recognised as the representative of business. It serves as a focus for business, allowing a two-way dialogue between its members and a range of local bodies, particularly the council, the Mayor, residents and community groups.

This Business Plan, developed through consultation with occupiers and property owners and in consultation with residents, provides a proactive five-year programme of projects that are important to our businesses. The BID’s role is to lead on projects, think about the economic future of the Road and to influence its many partners to help deliver the Business Plan. The BID will have access to dedicated resources to deliver the programme, some on its own and some in partnership with other organisations.

The King’s Road BID would be the vehicle to focus resources and efforts, first on recovery and then on long-term growth. The Delivery Plan’s overall objective is to help create, maintain and promote the district so that it attracts the particular groups of visitors identified in the vision, encourages them to stay longer, spend more money and return more often.

The need to ensure that the BID makes a positive contribution to the environmental, social and corporate governance (ESG) will be incorporated into every element of the BID’s activities.

Working together with our partners and our local communities, we can ensure that the King’s Road remains a vibrant, viable and sustainable area which works for businesses and residents and of which everyone can be proud.

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