It’s a YES for the Edgware BID

Supporting the Business Community in Edgware

Edgware businesses have voted to back a Business Improvement District (BID) that will help drive over £800,00 of new investment into the High Street over the next five years and beyond. There are now over 320 BID companies in the UK, and all have been developed for businesses by businesses. The Edgware BID plans to tackle issues of cleanliness, improved promotion and marketing as well as supporting initiatives that help tackle crime and safety. Edgware BID will also act as a combined voice for the businesses it represents in the area.

Steve Wayne of Benjamin Stevens Estate Agents and Chair of the BID said: “A big thank you to all the businesses that voted yes to support the Edgware BID. Securing five years of investment in our area is really important for the future of Edgware. Also, this gives us the ability to speak as one business voice which will be hugely powerful. I look forward to working with the BID and seeing the changes it can bring to our business community”.

Councillor Anne Clarke Barnet’s Small Business Champion and Cabinet Member for Community Wealth Building said “As the first BID in Barnet, the Edgware BID marks an important moment in our partnership with communities and businesses. We care a great deal about our places and the people who live and work in our town centres, and by establishing this BID, we can foster a stronger dialogue between the council and the business community in Edgware. By working together, we hope that we can make Edgware a place for businesses new and old to thrive.”

Edgware BID Area

Edgware BID Street List: Approach Road, Broadwalk Shopping Centre, Edgwarebury Lane, Hale Lane, Herons Gate, High Street, Manor Park Crescent, Penshurst Gardens, Rectory Lane, Station Road, Stream Lane, The Drive, The Promenade, The Quadrant.

What is a BID?

A BID is a business led partnership that enables coordinated investment in the management and marketing of a commercial area. Governed by legislation to ensure fairness and transparency, a BID is developed through consultation with the business community and the subsequent development of a five year business plan. The plan is voted on by all those that will be asked to pay the levy. In the event that a majority of voters, more than 50% both by number and rateable value, vote to support the business plan then a BID will be. During this period all businesses defined within the business plan will be required to pay a mandatory levy irrespective of whether they cast their vote in the ballot. We anticipate this levy to be 1.5% of a businesses rateable value.

Operating Agreement

Read in full here – Operating Agreement – Edgware BID – online.docx