Businesses back BID to boost city

BUSINESSES in the centre of Cardiff have given their backing to the creation of a business improvement district (BID) – giving them a direct say in efforts to further enhance its appeal as a leisure and investment location.

Following a ballot of businesses, the vote was overwhelmingly in favour of setting up a so-called BID for the capital, which will see businesses – although not including many smaller firms – paying a levy worth £7.5m over the next five years to support its activities.

It would be for the BID taskforce to now agree a programme of business-supporting measures.

Efforts will be themed on making the city centre more welcoming, vibrant and influential, and enhancing the overall experience of the city centre as somewhere to “visit, study, meet, work and invest”.

The aim is for the BID to be operational by the end of the year.

Results announced by Electoral Reform Services showed that 84% of those businesses that voted, some 227, backed the establishment of a BID, which covers nearly 1,000 city centre firms.

Firms pay a levy of around 1% of the rateable value of the business.

Smaller businesses with a rateable value of less than £25,000, it is proposed, will be exempt from paying the levy.

Simon Phillips, chairman of the Cardiff business improvement district task group and manager of Marks & Spencer, said: “This is a strong vote of confidence from all types of businesses who trade here and who clearly see the city’s potential for change.

“The investment from local businesses will be used to improve our area, contribute towards a more successful and profitable future, making the city centre a better place for customers, employees, visitors and businesses alike.”