It’s a YES! – Stakehill businesses celebrate positive BID result

Posted by on 1 Mar 2021

Businesses across Stakehill have voted in favour of plans of the Stakehill Business Improvement District (BID), securing a significant £800,000 to be spent on supporting businesses and improving the area.

The positive result follows 18 months of planning, in-depth interviews, surveys and workshops and a month-long ballot in which hundreds of businesses in the area were asked to vote on the proposals.

79% of votes cast voted in favour of the BID Renewal Ballot by total number of businesses, and 74% of votes cast voted in favour of the BID by Rateable Value.

As a result of the yes vote the of the renewal of Stakehill BID to commence, on the 1 July 2021. Businesses with a rateable value of £12,001 or above will pay a levy based upon their rateable value, creating a collective fund of more than £800,000 to spend over the next five years.

The plans were spear-headed and driven by the Stakehill BID Steering Group of business representatives from across the Industrial Estate, supported by pfbbUK, who develop and deliver Business Improvement Districts across the country.

Speaking about the ‘Yes’ vote, Martyn Barrow (MID Communications) Chair of the Stakehill BID Steering Group said: “This is superb news for Stakehill Industrial Estate and huge congratulations must go to all the businesses which rallied and joined forces to ensure we secured a yes vote BID Ballot. Thanks must go to all those businesses who engaged in the process by sharing their ideas and opinions on how we can work together to improve the area and who, ultimately, voted in favour of the plans that to support each other in these challenging and uncertain times.”

“The BID’s business plan, which businesses were being asked to vote on, has been designed to begin addressing the issues which came up during the lengthy consultations with f the businesses in the BID area. The collective voice of businesses working together also translates into productive relationships and outcomes, and the ability to influence more strategic issues such as road and rail networks when working with other organisations and public bodies.”

“The money will now be spent through the three key strategic objectives and their related activities”

The Stakehill BID vision is ‘The Stakehill BID area to be recognised as the place where businesses develop and grow through collaboration and investment.’

The BID will:
1. Provide an infrastructure for businesses to operate and people and services to access and move around, safely, and effectively.
2. Work closely with key stakeholders & partners to create and maintain a safe and secure working environment for customers and workers on the estate.
3. Provide a strong coordinated voice to represent the interests of the businesses and all those who work on the estate.

Stakehill BID has a business-driven focus to ensure essential improvements to Stakehill Industrial Estate, a means to ensure that the businesses, not only survive, but prosper in these uncertain times.

A company will now be formed to deliver the objectives of the BID over the next five years. For more information please visit https://www.stakehillbid.com/