BID Leamington Business Plan 2018-2023

BUSINESS PLAN 2018-2023
THE BID IN LEAMINGTON
Local businesses voted to establish BID
Leamington in March 2008 for a five-year term. In
March 2013 businesses voted to renew the BID in
this area for a further five years.
BID Leamington is a non-profit organisation
representing around 400 businesses in the town
centre. Its duty is to promote, enhance and support
Royal Leamington Spa and influence the local agenda
to ensure that the town remains attractive to visitors,
customers and investors alike.
BID activities are set out in the Business Plan and are
guided by the BID Board of Directors which is made
up of local business owners and managers.
The implications of this are that all retail businesses
and properties within the BID boundary that have
a rateable value (RV) of £15,000 and above (as
defined by the 2017 NNDR listing on the 1st July
each year) pay a levy equivalent to 1.6% of the RV of
their property. This is collected annually by Warwick
District Council on behalf of BID Leamington Ltd in
July each year.
Businesses that have a RV less than £15,000
and are located within the Local Plan town centre
boundary can join the BID scheme as a voluntary
member. The levy is calculated the same way with a
minimum contribution of £100 per year. There is also
a ‘supporters and sponsors’ scheme to attract further
support from the wider business community.
£90,000 +
BID Leamington generated at least
£90,000 additional income each year
(over the last 5 years) to supplement
the annual BID Levy.
That’s 32% additional revenue
to compete with
neighbouring
destinations,
leamington
needs its bid
SARAH JONES,
ROYAL PRIORS SHOPPING CENTRE MANAGER
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