All set for the BID ballot! Businesses to vote on paying annual levy to raise £1 million for Spalding improvements

More than 400 businesses are voting on whether they want to back a scheme which aims to raise £1 million to make a town centre more appealing for shoppers.

The proposed Spalding Business Improvement District (BID) has delivered its five-year business plan, stating it wants to help the town evolve to keep up with the ‘massive changes to people’s shopping and leisure habits’ over the past 10 years.

Firms in the town centre will now have the chance to their say on whether the BID - a scheme which sees traders come together to fund improvements to encourage footfall in the area - gets the green light.

If the answer is yes, then businesses will pay a levy which would be dependant on their rateable value to back the initiative. A previous attempt to form a BID when traders voted it down — with concerns raised over the compulsory levy element.

BID bosses expect the annual levy to raise £170,000 a year, while encouraging potential investment of £1 million over five years.

“We all want to see Spalding thrive as a retail, commercial, entertainment and civic centre to ensure that it remains attractive to the local and wider community,” said BID chair Craig Delaney.

Mr Delaney added he had been ‘inspired by the commitment and passion’ the business community has shown for Spalding, but reiterated plans will only progress if traders are behind it.

“It’s down to you now,” he continued.

“We’ve addressed the major themes raised by you.

“We believe we have developed a plan that benefits all, whether you are in the retail an service industry or operate one of the many professional service organisations and the creative industries.”

The posting of ballot papers to relevant businesses began on Friday (May 31) and traders have until June 28 to cast their votes ahead of the result being announced on July 1.

Among the projects the BID want to deliver are reducing anti-social behaviour, improve landscaping, promote markets, introduce a loyalty scheme for Spalding shoppers and develop walking trails around the town.

If the scheme gets the go ahead then premises with a rateable value of £2,500 will pay an annual levy of £50. The cost rises for £100 for a rateable value of £5,000, £200 for a £10,000 RV, £400 for a £20,000 RV, £1,000 for a £50,000 RV, £2,000 for a £100,000 RV, £5,000 for a £250,0000 RV and £10,000 for a £500,000 RV.

The smallest independent business with a rateable value of less than £2,500 will be exempt from paying.

The BID suggests more than 75% of businesses will pay less than £1 per day.

The business plan’s introduction states: “The last decade has seen towns across the UK experiencing massive changes as people’s shopping and leisure habits move, and their choices change.

“This has been exacerbated further by the pandemic and having to meet the unprecedented challenges that this has brought along with the cost-of-living crisis.

“In this undeniably tough trading environment in Spalding must continue to adapt, recover, and grow in order the thrive.”

Traders in the BID area currently have a combined rateable value of £8 million per year, with 60% of the businesses being retail.

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