Newham businesses vote 'yes' to BID

Friday 6th July, 2018

Newham businesses have voted ‘yes’ to a second term as a Business Improvement District (BID) with a strong mandate from its business community.

A total of 79 Newham businesses took part in the ballot, a turnout of 57%.  Of those voters, 68 were in favour, representing an 86% majority by number and 91% by rateable value.

The ballot results were higher than in the first term demonstrating that the BID has made a big difference to Newham and that businesses didn’t want to lose those benefits.

The new five-year term will begin on 1^st September 2018 with circa £76K each year to be spent on delivering projects and services in the thriving riverside business district. Each of these priorities have been highlighted by the businesses as outlined in Newham’s BID Business Plan.

Carole Theobald, Chair of the BID said: "The yes vote is fantastic news for Newham and it is great that businesses have recognised the worth of the BID. Newham is home to a diverse range of businesses all keen to see themselves and our business community thrive and we are looking forward to continuing to work together. Thank you to everyone who supported us."

Newham BID is part of Totally Truro, a not for profit company limited by guarantee which started the BID in September 2013. The BID is managed by a Board of Directors and a committee who are business people from within the district who in turn employ a BID Manager, Mel Richardson.

The BID has used its funds to deliver projects such as increased CCTV coverage, new eye-catching signage, targeted marketing and awareness campaigns and road and green space maintenance.

South West insurance company Cornish Mutual has staff based across the South West, but its headquarters is at Newham.

Cornish Mutual Finance and Operations Director Peter Beaumont said: "Cornish Mutual is delighted that the Newham BID has been voted in for a second term. The BID has led to a number of initiatives that have given local businesses a boost, from attracting more customers to improving security.

 "As one of the biggest companies based at Newham, the BID has helped us to forge stronger links with local businesses. We look forward to developing these relationships further over the coming years and to working with our neighbours to make Newham a real success."

 The new five-year business plan will deliver projects and services under four key themes; enhancing the environment and creating a business district that is an accessible and attractive place to do business; safety and security by maintaining CCTV surveillance and introducing security patrols; place and business promotion to enhance the profile of Newham and its businesses to drive footfall and sales through a PR and Marketing campaign; creating connections by, for example, lobbying on issues that matter to businesses.

 Mike Pritchard, Commercial Director at Skinner’s Brewery, said: "We are extremely pleased that the BID team have been successful in securing a second term.  Knowing how dedicated and hard working the team are ensuring a positive future for Newham can only be good for all organisations in the district."