If the BID has been successful there will be an opportunity to vote for a renewal of the BID. The following term may contain the same elements and goals or could include an updated and different business plan to reflect new priorities at the time.

BIDs are a national success story with over 315 schemes throughout the UK. Evidence has shown that they work with nearly every second term ballot resulting in higher numbers of businesses voting ‘yes’. They have led to increased footfall, reduced overheads, safer environments, and more vibrant towns and cities. In turn this results in higher spending levels. Bournemouth (with two BIDS), Wimborne, Ferndown, Dorchester, and Weymouth are other towns in Dorset with successful BIDS.

The majority of BID schemes have voted in favour and the positive benefits are clear. Businesses in those areas have the chance to influence how their towns are managed and to make the changes necessary to survive and thrive. Of all the BIDs that have gone to ballot for a second term over 90% have been approved by an increased majority.

The BID levy is charged to occupants of business premises with a rateable value of £5,000 or more and is collected by the Borough of Poole, and placed into a ring-fenced account, which is then passed on to the BID Company. The income from the levy and from voluntary or commercial contributions will be used to fund local activities and services, as decided by the businesses.

The BID levy is a separate payment as business rates are a national tax collected by local councils on behalf of central government and then redistributed according to a national formula. The Council’s income from this redistribution is spent on statutory and discretionary services for residents and businesses. Businesses tend to have little say in the way these funds are spent. The great thing about a BID is that the projects it undertakes have been agreed by businesses, through a series of consultations. The money is kept locally, and spent locally, for the benefit of the local area. The levy is based on the rateable value of the business unit and the funds are reinvested within the BID area.

That will be for each business to decide. In the main it includes better marketing, improved security, better signs and directions, better cleaning, taxi marshals, cost saving initiatives, promotions and events tailored to attract shoppers and visitors to the area.

The council will still be legally obliged to provide all the services that it does now and bring in any improvements they have scheduled. Anything done through the BID is additional to what you get for business rates. Budgets for local councils have been reduced and there is generally no additional money to improve or support new ideas.

A BID scheme supports additional projects and services, provides new activity and does not replace statutory activities or services carried out by the City Council, County Council, Police and other public agencies. The BID Company has baseline agreements with the Council to ensure that businesses are not short-changed in the future and to avoid any duplication of services. The Council has pledged its support for the BID and will contribute financially because they have commercial properties in the BID area and will have levies placed upon them. Businesses will continue to benefit from the services the Councils and Police provide for the benefit of businesses and public such as cleaning, lighting, access and safety.

It costs a small percentage of your rateable value, in the case of Poole BID this is 1.5%. This is equivalent, in many cases, to pence per week for small businesses, or a small ad in the local press for bigger companies. All money paid is also used to encourage more funding so the pot grows. Only business in Poole with a rateable value in excess of £5,000 will be included in the scheme.

The cost of collecting the levy from smaller businesses outweighs the income generated from them. It also means that the number of businesses is reduced, meaning that we can communicate with eligible businesses more effectively. Businesses under the threshold are not eligible to vote. Exempt businesses can opt in to make voluntary contributions of no less than 1% of their rateable value.

A map showing the BID area can be viewed here.

The Poole BID area contains over 500 businesses on the following streets: High Street, Dolphin Centre, Poole Quay, Falkland Square, Kingland Crescent, Kingland Road, Vanguard Road, Pitwines Close, North Street, Chapel Lane, Lagland Street, Dear Hay Lane, Hill Street, Market Close, New Orchard, Old Orchard, Market Street, New Street, Castle Street, Strand Street, Cinnamon Lane, Thames Street, Sarum Street, Globe Lane

Every business in the area with a rateable value above £5,000 had one vote.

Eligible voters will have to pay regardless of how or if they voted.

The BID Business plan is a legal document. Every year the BID Company is obliged to publish an audit of its delivery against the targets in the BID plan, all voters have a right to see that audit and hold the company to account.

The High Street and public purse are under pressure to change like never before. The increased use of online retail and mobile comparison apps means businesses need to work together to counter the threats and maximise the benefits of driving down overheads such as insurance and utility costs. A BID also makes your money go further with larger marketing budgets to reach out and promote your business both locally and further afield. BIDs offer great opportunities for economies of scale and much greater value for money than you have at present.

The money does not go to the Government or the Council. Funds will be held by the BID Company; these funds are only for the projects agreed and voted for by the participating businesses in line with this proposal. Each year businesses can see a fully audited report and set of accounts that will set out clearly how the funds have been spent in the previous year.

An extensive consultation period took place to communicate with all businesses in the area. Ideas, suggestions and priorities for taking Poole forward were suggested and the detailed business plan was produced and published following this consultation. Businesses then took the opportunity to formally vote for or against the proposal during the ballot process which took place in April 2016. The ballot returned a positive result and the BID Company has been formed. The official start of Poole BID is 18th July 2016. The first term will run for five years, until July 2021.