The means begin their Welsh BIDs journey

By hajir / On May.22.2014

The means were appointed to work with businesses, and other stakeholders, in six Welsh towns who are considering the development of Business Improvement Districts (BIDs) following successful funding applications to the Welsh Government.

Work has already begun with a series of business consultation exercises as part of an initial feasibility study in:

·         Llanelli

·         Pontypridd

·         Neath

·         Bridgend

·         Aberystwyth

·         Pant Industrial Estate

The commissions are split into two stages: During stage 1 our role is to assess the viability for a BID in each location, whilst at stage 2 we will be tasked with taking the proposed BID to ballot (subject to successful stage 1 outcome).

The outputs for this commission include:

·         Development of the BID concept, aims, vision and implementation strategy

·         Determining levels of a real business need, commitment and enthusiasm for a BID

·         Assessment of the potential BID options regarding:

o   Levy charge

o   Area boundaries

o   Prioritised project ideas

o   Key individuals / groups to lead the project

o   Governance

·         Financial modelling, resources and timeline for the BID development process

·         Creation of a deliverable BID proposal

·         Guidance on legal and legislative issues

If the feasibility stages prove successful, we hope to take each location through to a BID ballot during 2015/16.

For all commissions we have partnered with British BIDs, the voice for BIDs in the UK, to allow each location to benefit from the organisation’s knowledge base, networks and member events.