Newry BID (Business Improvement District)
On Friday 26th March 2021 after a six-week postal ballot process, Newry BID was successfully voted in for its second five-year term.
Newry BID would like to thank every single business in Newry and organisation who took the time to cast their vote. It was a particularly difficult time to have to undertake a revote process; when so many businesses were closed or experiencing financial hardship. We appreciate that many people went out of their way to make sure their vote was cast. We also understand with premises closed, vacant or uncontactable there were some organisations who were not able to place their vote. We are delighted to have been given an overarching mandate. The hard work has begun, and we will not let our members down.
We have a full business plan available outlining how we plan to help our members, organisations and businesses in Newry, #Belong to the local business community over the next five years; what we are going to do to #Invest in the city centre and how we will encourage others to do so; as well as what we plan to #Deliver in that period.
We are here to help and support retailers in Newry from the independents to the multiples; our hospitality and leisure sector- pubs, restaurants, cafes and hotels and our service sector including banks, solicitors, financial services and accountants in Newry. We are here to support our hair and beauty sector, our health sector including dentists and doctors in Newry as well as charities, support organisations, public sector entities and every other business in between. We want to continue to make Newry a great place for our members to live, work and do business and a place of choice for visitors to eat, shop and stay safely in.
Newry BID #Belong #Invest #Deliver
WHAT IS A BID?
A Business Improvement District (BID) is a local, democratically elected organisation that focuses on delivering specific improvements for local businesses in a defined area. BIDs invest in and deliver projects to improve the local trading environment, drive down business costs and raise the area profile. BIDs are led and controlled by business; they are independent, not-for-profit organisations with ring-fenced resources and finances. Newry BID area covers Newry city centre. Click on the link to view the Newry BID area.
Newry BID is funded by raising finance, principally, through a levy. The levy is an investment by businesses into a BID pot of money utilised to support business. For example, Newry BID delivers training, advice, support, cleaning, marketing, and promotion. The Newry BID levy is set at 1.5% which is applied to the rateable value or NAV of the property.
A BID operates for five years. Throughout the term the BID is accountable to its levy-paying businesses and must demonstrate how it makes a difference. After five years a re-ballot must be held to enable the BID to continue. Newry BID won its second term revote in March 2021 and will now continue through until 2026.
When a BID is declared, the levy is mandatory for all liable businesses in the BID area regardless of whether they chose to vote yes, no or not at all. Legislation passed by Stormont in 2013 defines that all businesses are legally obliged to pay the levy.
There are more than 300 BIDs in the UK and a number in the ROI. Northern Ireland has embraced the concept of a BID to develop major towns and cities. There are now eight BIDs in Northern Ireland with many of those into their second term.
NEWRY BID BUSINESS PLAN
The Newry BID team has produced a Business Plan for 2021-26 which is available to view here:
MEMBERSHIP OF NEWRY BID
Membership of the Newry BID Company is open to eligible stakeholders- please contact us at admin@newry.com to check if you are eligible to join and to receive a Membership Form. Please complete and return the Membership Form and read through Company Membership Protocols. All eligible businesses will receive an invoice setting out the amount payable to the BID Company. This invoice will be paid annually over the next 5 years. All eligible businesses will be able to benefit from BID initiatives, but we would encourage your direct participation in the company by completing the membership form.
HOW ARE WE PROGRESSING?
OUR VISION
It is our Vision to ‘be the leading Business Improvement District in Northern Ireland offering tailored support to every one of our existing members. We want to increase our membership by supporting and encouraging investment in the city centre. We look forward to having the opportunity, over the next five years to help realise this Vision.”
MISSION:
It is our mission to support, guide and encourage our members to deliver for their customers. We want to drive footfall, positive feedback and repeat visits. We aim to provide the best experience possible of Newry for all of those who choose to live, work in or visit our city centre.
VALUES:
B-ELONG
I-NVEST
D-ELIVER
Our three core values are:
Belong Invest Deliver (BID)
What does this mean?
Belong:
We have absolute belief in the power of Newry BID. We believe that by working together as a business community we can become better versions of ourselves and better than the sum of its parts. We actively encourage our members to get involved, to belong to the organisation and to ultimately benefit from what we can bring to their business.
Invest:
Everything we do in Newry BID is for the greater good of our members. We will leverage additional funding to make sure we are constantly giving back to the City and our members. We want Newry City Centre to be a place where people want to invest in and to come to live, work and do business. We want to embrace new technology and invest in new methods of working to help us realise this ambition for Newry City Centre and our members.
Delivery:
Delivery is at the heart of what we do. It is important that our members see results. We ensure that all the funds we are responsible for are delivered through programmes that are beneficial to our members. We want to continue to deliver training, advice, grant support, city centre enhancements, one-to-one business support and increased revenue in the local economy.
Survey:
We conducted a survey of our members prior to revote and this helped to shape our plans for Term Two. Check out some of the findings:
TERM ONE
Check out some of the achievements during the First Five Years of Newry BID
