Business plan

Business plan

Exciting change is underway in Twickenham town centre
Download our business plan (pdf)

Twickenham voted YES to becoming a Business Improvement District (BID)

What is a Business Improvement District ?

A Business Improvement district (BID) is a flexible funding mechanism to improve and manage a clearly defined commercial business area. It is based on the principle of an additional levy on all defined ratepayers following a majority vote. Once the vote is successful, which must achieve both a majority in terms of number of ratepayers and the proportion of their rateable value, the levy becomes mandatory on all defined ratepayers and is treated in the same way as the Business Rate, becoming a statutory debt.

The Businesses in Twickenham recognised that a BID was a fantastic opportunity to work together, to ensure that the business voice was heard, and invest over £1.4 million into promoting and enhancing the business community in Twickenham Town Centre over the next five years.

A BID gives businesses and retailers the opportunity to take control of their trading environment and ensure the money they invest is used to promote and enhance the key areas that have been identified.

  1. Improving and Increasing Marketing, Promotions and Events.

  2. Creating a More Attractive, Welcoming and Safe Environment.

  3. Addressing Car Parking Issues.

  4. Connecting and Representing Businesses.

  5. Positioning Twickenham Town Centre to Compete for the Future.

The Company

The Business Improvement District (BID) is managed by Twickenham BID Ltd. Our trading name is Try Twickenham, and our Website is www.trytwickenham.com 

Our registered office is 30 Heath Road, 2nd Floor. Twickenham. TW1 4BZ   Telephone numbers  0203 417 0809  &  07538 059968.   Company number 08798931 VAT registration 178 3113 06

The BID is an independent, not-for-profit company that is answerable to a board of directors, who are all BID levy payers and business owners/managers in Twickenham. The board all give their time for free, and  oversee the delivery of the projects outlined in this business plan.  The board employ a BID Manager to run the company and deliver the projects. The BID Manager is not associated with any business in the BID area to ensure there is no conflict of interests,  it is the job of the BID manager to ensure all the projects are in the best interests of Twickenham businesses and Twickenham Town Centre.

Funding.

The BID will be funded by a 1.5% levy on each business in the defined area with a rateable (RV) value exceeding £6,001. For clarity, BID levy is payable on RV of £6001 and above. Most businesses will be asked to pay less than £500 a year; collectively the total BID fund will exceed more than £278,000 each year to be spent exclusively in Twickenham Town Centre.

The BID Area

The BID area was carefully defined and shaped through the months of consultation carried out by a BID team.

The BID area is small enough so that it will have a significant impact and improvement on the businesses within it, but large enough to make it worthwhile for all those involved.

The businesses within the boundary will fund and control the BID. The £1.4 million generated by the BID over the next five years will only be spent on projects to benefit the businesses within this area, as guided by BID regulations.

STREETS IN THE BID AREA INCLUDE:

  • Arragon Road

  • Church Lane

  • Church Street

  • Cross Deep Court

  • Colne Road (from Heath Road to the railway bridge)

  • Garfield Road

  • Heath Road

  • Heathland Close

  • Whitton Road (2-12)

  • Holly Road

  • King Street

  • London Road

  • Prado Path

  • Queens Road

  • Richmond Road (1-19) • Riverside

  • Sion Road

  • The Embankment

  • The Green

  • Water Lane

  • York Street

 

Questions Answered

Why is Twickenham a Business Improvement District (BID)?

Twickenham businesses were surveyed in 2013 to find out what was needed in Twickenham to encourage exciting new businesses and greater footfall for the businesses that were already in the town.

Information and newsletters, with invitations to attend meetings and reply to surveys, were sent to every business in Twickenham, explaining how a Business Improvement District (BID) could improve the trading environment and make Twickenham a more desirable destination for business and shopping.

How was the information sent out?

All information was sent to the same address as the BID levy bill, the only exceptions are multinationals where bills are sent to head office and the information and ballot papers are sent to the retail outlet concerned.

How was the decision made to implement a BID?

To decide if a Business Improvement District (BID) was wanted or needed in Twickenham, the 450+ individual businesses that would be a part of the BID levy area, were invited to vote either YES or NO in an official ballot regulated by the Electoral Reform Services.

A Local Government ACT 2003 Notice Of Ballot letter, newsletters, and a detailed business plan notified every business of this ballot.

A yellow Electoral Service ballot paper, in an Electoral Reform branded envelope was sent to every business asking them to vote with an X on either YES or NO.

There was a window of 4 weeks in which to send back the vote to the ballot office, in a prepaid official envelope.

Constant reminders were sent in the form of 4 separate postcards that were sent on a weekly basis, leading up to the ballot, to remind people that a vote was happening and they had the right to vote YES or NO.

A majority YES vote would mean that the BID levy would be applied to all the businesses in the areas defined in the Business Plan.

The BID levy would be charged annually at 1.5% of rateable value of £6001 and above for five years.

Any business with a rateable value below £6000 would not be a BID levy payer.

A majority YES vote would mean that the BID levy would become a statuary requirement with no exclusions.

A majority NO vote would mean no Business Improvement District would be set up.

A YES vote was returned, with 85% in favour by number and 81% by rateable value.

 

Do I have to be a member?

Once Twickenham voted ‘YES’ to a Business Improvement District (BID), then collection of BID levy from the businesses identified in the business plan became a statutory requirement enforceable by law.