What can a BID do for my business?
The benefits other BID areas have seen are:
Businesses
Increases in footfall
Increases in consumer spend
Reduced costs (joint activities, e.g. promotions, collective purchasing of utilities)
Gives businesses a collective local voice and promotes closer links with the local authority
Creates a more appealing environment for the businesses and their employees
Fair system, everyone invests, everyone benefits
Increases an area's desirability and attracts occupiers
Community
Produces economic well being and sustainable economic growth in the area
Attracts inward investment
Produces social well being / improves quality of life
Enhances natural and built assets and supports the sustainability of the town
Creates a positive sense of place and enhanced feeling of safety and well-being
Civic and community pride
Tourism
Increase in visitor numbers
Improves the visitor experience
Enhances the reputation of the area and the region
Benefits of BID4OBAN
BID4Oban delivered sustainable funding for a 5 year period, allowing businesses to work together with partners on agreed priorities for the area.
The BID uses a collective investment from every business in the area, raised by a levy determined by non-domestic rateable values.
A BID can cover almost any project or service that businesses agree would be of benefit and worth funding, as long as these are additional to the services provided by statutory authorities (the Council, the Police, Transerv etc).
In the first five years of BID4Oban this has resulted in the following highlights:
41 shop front improvement grants funded to levy payers
£20,027 spent on improvement grants to levy payers
51 events supported financially at a cost of £92,460
700 hanging baskets and floral arrangements installed
Love Oban Vouchers scheme created, which has local sales to date of £32,000, ensuring that local money stays in Oban
Christmas lights enhanced throughout Oban
BID4Oban Wi-Fi installed in Little Bay area
Town Diary and What’s on updated throughout BID