News

2010-11-26 : Fourth business improvement district given green light for birmingham

A Business Improvement District in Birmingham has been voted firmly in favour by traders in the Southside area. This will be the fourth BID scheme in Birmingham.

Independent ballot results showed that 82% of those that voted were in favour of the Southside BID scheme. According to the city council, the scheme will strengthen Southside's position to capitalise on major development opportunities.

All traders in the BID area will pay an extra 2% on their business rates, which is predicted to generate £1.75 million over five years. Birmingham's three existing BID schemes, Broad Street, Retail Birmingham and Colmore Business District currently bring in over £10 million of additional investment.

Ten key pledges have been set out by Southside Bid which include improving the visitor experience; creating a safe and welcoming environment and providing an effective ‘business' voice.

The Southside BID hope that they can now deliver a wide range of enhancements to the area that will unlock Southside's ability to attract more investment, employment and visitors.

The Client Care department at Ruddle Merz ensures that once initial savings are made, other opportunities for further potential savings are not overlooked during the life of the Rating List. For a free business rates review call 0800 883 0353 or email enquiries@ruddlemerz.co.uk.