Businesses urged to support plans to launch a Business Improvement District

City businesses are being urged to support plans to launch a Business Improvement District (BID) in the city centre to help business to prosper locally, compete nationally and also to help to drive inward investment. 

The decision on whether or not to launch the BID will be made by businesses taking part in an official ballot in Spring 2020. If enough businesses vote 'yes' the city will be awarded BID status.

In the meantime, a survey will next month be sent to find out what type of city centre improvements and projects businesses would like to take place, should the ballot be successful and the BID set up.

All this is being organised by the new Peterborough BID Steering Group, which includes business leaders from a number of high profile companies including Metrobank, Boots and Marks & Spencer as well as local independent businesses Parrot's Fish Parlour, Niro Designer Menswear. Stoneworks Bar and The Banyantree. 

There are 319 established Business Improvement Districts (BIDs) in the UK including in Cambridge and Nottingham. Each BID proposal is different depending on local needs and priorities, but usually focuses on place promotion, events and marketing, increasing footfall and sales turnover for businesses, retail and evening economy. 

Mark Broadhead, BID chairman and centre director for Queensgate Shopping Centre said, “Businesses collectively need to take action themselves so the area can compete locally and nationally and so that people who live, work or visit here can get a fantastic experience. A BID can really help to deliver that. The important thing is that prople get involved and say what they think could make the biggest difference to their business. The core point is what will a BID do for Peterborough?” 

Councillor Marco Cereste, cabinet member for waste, street scene and the environment at Peterborough City Council, said: "We are delighted to see the city centre business community taking the initiative to set up a Business Improvement District in Peterborough and would encourage local businesses to get involved in plans for how we can improve our city centre and make Peterborough an even better place for residents and visitors to shop, relax and enjoy and businesses to prosper."  

Business leaders believe the creation of a BID in Peterborough will enhance the city's standing, boost footfall and sales turnover and improve the visitor experience. 

The BID survey will commence in July and the report will be finalised at the end of summer detailing the projects and improvements businesses would back. These will form the five year BID Business Plan for the city that businesses will vote on in spring 2020. 

Businesses in the city centre will receive a hand delivered letter with full details and encouraged to have their say on possible improvements to the city centre via an online survey. 

Processing Request