Broadmead BID wins fifth term from levy payers
Levy payers in Bristol’s shopping quarter, Broadmead, have voted to continue with its Business Improvement District (BID) for a fifth term.
Seventy-nine per cent of businesses in the levy area voted in favour of retaining the BID – its strongest ever mandate. By rateable value the positive vote was 82 per cent.
In 2005 Broadmead BID was established as one of the UK’s first BIDs, with a mission to to drive footfall, increase sales, and be a strong voice. It is now one of the first to win a fifth term.
Financed by just under 300 businesses who pay a three per cent levy on top of their business rates if their rateable value is over £13,000, the BID pools the resources of its members to put on Christmas lights displays, put on festivals, trails, and crowd-attracting events, and keep the area clean with street cleaning teams and address anti-social issues with street teams.
The BID represents businesses in The Galleries, Cabot Circus, The Arcade, and the wider Broadmead area.
The BID also joins forces with neighbouring BIDs to support city-wide events including the Bristol Light Festival and the Unicornfest, the Bristol Unicorn Trail which ran through the summer to mark the city’s 650th anniversary celebrations.