The Fulham Broadway Business Improvement District will deliver investment to Fulham town centre, helping to focus on business priorities, highlight the area’s many assets, attract more visitors and help the local economy thrive.
The result of the business community vote was announced on 13th July 2018, following a month-long postal ballot where the owners of the businesses in the BID area voted 63% in favour. The turnout was 30%. Local businesses voted for a 1.25% levy on their business rates, which will raise around £330,000 per year to be used by local businesses to support business growth initiatives.
For Fulham Broadway BID this is the culmination of 18 months’ work for the local business people who formed the BID Steering Group, to put together the innovative proposals approved by the local business community in this ballot. Fulham Broadway BID, a business led not-for-profit company, will now start in October to deliver over £1.6m of investment locally over the next five years.
The BID will focus on three main areas, which have been developed with in depth local business input:
• Business benefits: Driving down operating costs & increasing businesses opportunities
• Place branding & marketing: Promoting the area & building a world-class brand
• Niche & landmark events: Delivering a year-round programme of high quality events
The Chair of the BID Steering Group, Brenhan Magee of Broadway Bar and Grill said:
“The Business Improvement District is an initiative run by businesses, for the benefit of businesses. It has been a pleasure working with such an enthusiastic steering group of local business leaders who have dedicated hours of their time already to making Fulham Broadway an even more fantastic location.
We are delighted that the business community has backed the idea by voting for it. Now is where the hard work really begins in delivering a programme that will provide tangible results for local business. We look forward to the challenge and welcome the involvement of others in business locally to help us shape the future of our area.”
Chelsea Football Club funded the initiative as part of its ongoing neighbourhood improvement commitment.
More information can be found on the website www.fb-bid.co.uk
Or you can email [email protected] to arrange to speak with somebody from the team.