Brackmills Life Newsletter

TRAVEL FEED

M1 southbound within J25 | Southbound | Road Works
Location : The M1 southbound between junctions J25 and J24 . Lane Closures : Lane three is closed. Reason : Roadworks. Status : Currently Active. Period : expect disruption until 21:00 on 17 October 2017. Lanes Closed : There is one of four lanes closed.
10 min 59 sec

Overview of BID and its Benefits

The very first question about a BID has to be:

So, what is it?
A Business Improvement District (BID) is an active, business-led partnership that works with the Council to define quality services and standards throughout the Brackmills Estate. A private-sector led BID company then “buys in” additional activities to supplement those already being provided. The improvements to the overall environment around the businesses can address a range of issues which impacts ultimately on the operation and profitability of all the businesses in the defined area.

The “extras” can be whatever the businesses feel will add value to their business.

There is a voting mechanism linked to the BID to ensure that what is being proposed is commercially acceptable. If the majority of businesses that vote, favour the BID company’s proposition then it becomes compulsory for every business in the area to pay a contribution towards the overall costs. All the money collected goes on the additional services and a consortium of business representatives who form the BID company board carefully controls the process. So, the projects tackled are local, the vote is local, the control of the spend is local and the benefit end up benefiting the business’s bottom line.

There are “failsafe” mechanisms built in too. The success of the BID’s project is carefully monitored throughout its life (usually five years) and fine-tuning adjustments are made by the BID Board (into which the businesses in the area have a clear route of communication). Incidentally, they will be checking basic Council services at the same time, to guarantee they continue as before, or are better. If the BID does not deliver what’s stated in its business plan to give better business performance then it can be switched off at the end of the five years by saying no when the re-vote is announced.

Why is a BID needed?
Brackmills has attracted significant new investment over the years of global brands and high profile business names. It was reputed to be one of the premier industrial estates and business parks in the country.

The Borough Council provides a wide range of services to the estate’s businesses but the Council is under pressure with constant demands placed on them by Central Government while the budgets to support them continue to decline.

The Council can only do so much with the money it has and if it is seeking to re-establish the reputation and environment of the estate, many would agree the standards set and the services provided are just not good enough. More has to be done and the Council cannot be expected to do it all on its own.

New money, new energy and new ideas have to be found if the businesses are to face the increasing economic challenges of operating in a trading climate where customer expectation continually increases at a rate equal to the increase in the costs of production, overheads and operation. The problems and issues that exist in and around businesses have to be tackled in an innovative and efficient way. They affect everybody, so everybody has to contribute to their resolution.

What’s in it for the businesses and the Brackmills Estate?
Firstly it can generate sustainable funding that is 100% ring-fenced and controlled by the businesses in a very transparent and open process. Secondly, it stops some businesses paying their way while others prosper on the back of this contribution. Thirdly -it will improve the profit performance of individual businesses by influencing issues such as access for goods, services and staff, security and safety on the roads and open areas around the businesses and potentially reduce operating costs such as energy supply and waste disposal through a group rather than an individual business approach.

The businesses get to vote to pay a little bit extra for the improvements they want to see in Brackmills. Obviously they won’t vote in favour if the sums do not add up. Also, as explained earlier, the BID will be structured with a fixed life - probably five years, after which it will be necessary to renew the BID through a second vote. If it hasn’t worked for the businesses, they can simply switch it off.

What happens to existing services?
Part of the setting up process is monitoring and checking the delivery standards of current services to the estate such as highway maintenance and policing and insisting they are adhered to. These standards will form the basis on which to gauge what is wanted in terms of extra services and standards, and gap can be bridged.

The private sector fronted BID company will then negotiate the extra, how it will be paid for and what impact it is likely to have. Don’t forget too, that the BID company will tease more money out of other public sector pots if it can, to help make the BID work better. This extra leverage will add more value to business investment, making the deal really worthwhile.

Why should businesses get involved?
It is a unique opportunity for businesses to join together to shape a new deal for the Brackmills Estate to benefit all the businesses. New innovative thinking, energy and action can start to generate real difference. Sharing passion between businesses and like-minded individuals around will help re-establish the estate as a premier place to operate and do business.

The business benefits of a BID:

  • Enhances the image of the estate for visiting customers and suppliers and an improved sense of well being and pride in the area within which people work potentially helping sales, increased leverage on supplier costs, improved productivity and improved retention of skilled people to the area. All of these factors potentially have a positive impact on business profitability.
  • With rising business profitability and greater demand for a stake in the area’s success, property values advance too, further increasing the return on business investment
  • More flexibility and credibility to address issues of concern to other agencies, authorities and non governmental organisations.
  • Businesses have a local voice on the future of the environment around and their opinions count
  • It creates a more appealing/ safer environment for the business and its employees

It’s a fairer system too because all who invest gain the benefit and the complusory payment aspect of the BID means that includes everyone – there is no freeloading.

Brackmills Industrial Estate Partners
The BID is working in partnership with the above organisations

Brackmills Industrial Estate Limited
c/o John Lewis Partnership
1 – 2 Mercury Drive
Brackmills Industrial Estate
Northampton
United Kingdom
NN4 7PN

Email: enquiries@brackmillsestate.co.uk


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