Funding The Business Improvement District
Business Improvement Districts are supported through a specific levy which is a small percentage of a businesses’ rateable value.
The Board propose this to be set at 1.25%, moderated by two factors:
- A cap on the contribution of £2,000 pa per business premise described as a rating hereditament. This is to ensure that no one business has to pay an excessive amount.
- A floor of rateable values of £8,500. Collecting levies below this amount from very small businesses would not be cost effective. These business could make a voluntary contribution as associates to the BID.
Funding The Business Improvement District
Each individual hereditament (the taxable property) that is eligible to pay the levy has a vote. Some businesses have more than one taxable property. These businesses have one vote for each property. Whoever is responsible for paying the business rate will be entitled to vote in the ballot. For most properties this will be the business occupier not the property owners.
The BID produces a Business Plan specifying the proposed estates investment priorities. The vote is managed by Dorset Council in the form of a postal ballot organised by independent specialists.
The BID Levy
Following the vote in favour of the BID, Dorset Council, the local billing authority, will arrange for the mandatory levy to be collected from all eligible businesses by a separate invoice. The monies collected would then be passed to the BID for investment in line with the published Business Plan. The local council will not determine the investment priorities although they may choose to align some of their spending with the BID’s. The BID will operate for an initial 5 year period. Over this time it is expected that the BID will be able to invest a minimum of £700,000 into the estates. It is anticipated that the contributions will levy additional funds into the area.
Security Group
In order to help progress actions to enhance security on the estates a Security Group has been established. The Security Group also includes Dorset Police and SWL who provide evening and weekend security for the estates together with security specialists from levypayers.
BID Factfile
A Business Improvement District enables groups of businesses to join together and commission improvement projects. Covering both industrial estates your BID is managed by the Ferndown and Uddens BID Ltd. The BID generates an income through a levy of 1.25p in the pound of rateable value for each business ratepayer over £7,500. Since 2014 the BID has delivered significant improvements that have enhanced the trading environment for our business community. In 2019 businesses on the estate endorsed this mandate by a 73% support for the new Business Plan.
What's our mission?
To implement the Business Plan and to continuously improve the trading and working environment on the Estates, so that it is a great and safe place to do business and to work. The Ferndown & Uddens BID is here to bring genuine improvements and value to the business community on the Estates. The BID developed out of the collaborations of the Ferndown and Uddens Business Forum and Security Association. Thanks to the support of businesses through the initial ballot in 2014 and the renewal ballot in 2019 together with our partner organisations the BID has been able to make real improvements for the business community. 350 businesses. 3,500 people. One voice.