Businesses celebrate win for Luton

News Article

Businesses in Luton town centre have voted in favour of making the town centre a Business Improvement District.

There was a strong turnout vote in favour with 75% of the businesses and 66% of the aggregate rateable value voting in favour of the BID – giving a clear mandate for the next five years from 1^st January 2015.

Under the BID, businesses will pay between 0.75% and 1.5% of their rateable value of their premises with fixed bands for the smaller businesses. This will generate around £420,000 a year for the next five years which will be used to fund activity identified in the business plan.

The initiative has been developed by business representatives from across the town who form what is known as the ‘Town Team’ working with the Luton Borough Council and supported by BID specialist company Partnerships for Better Businesses (pfbb uk) who carried out extensive research in preparation for the Luton town centre five-year business plan. This included participation by businesses in surveys, extensive one to one interviews and numerous workshops and street surveys with the general public and finally developing the business plan itself.

From this feedback four key objectives emerged under the vision of ‘developing an energetic business community which strengthens the business sector and creates cohesion, a vibrant town centre, a great visitor experience and a sense of pride in our town.’ The four objectives in the plan are:

Promotion

To promote the strengths and the business offer to change perceptions of the town.

Environment

To ensure that the town centre is accessible and appealing

Experience

Toprovide a safe, attractive and appealing experience for visitors and workers

Businesses working together

Support and promote business growth, development and investment and a sense of businesses community.

Mark Broadhead, the Manager of the Mall and the Chair of the ‘Town Team’, said:’this is an exciting project which gives businesses their own budget and a real influence on matters which directly impact upon their ability to attract clients and customers and make a difference to their turnover and profit’.

‘The BID business plan pulls together a range of activities which will change the way in which Luton is perceived by businesses and the public over the next year or so, as the plan starts to be delivered’. Mark continued, ‘I would like to thank all the businesses for their support. The BID represents a real step forward in the development of Luton town centre’.

The BID Team are now working on the details for implementation to start 1^stJanuary 2015.   You can expect a newsletter in the New Year informing you on progress and you will be given a chance to have your say before final delivery. This New Year Newsletter will provide information on which projects are to be prioritised, details on your BID Team, an explanation of how you can get involved as a BID Board Member and an outline timetable to the first AGM in 2015.