The BID is a business-led and business funded body. The Bishop’s Stortford BID was first formed in 2018 to deliver a range of improvements within the town centre for a 4.5 year term. The BID was supported by 87% of those who voted within a ballot and generates approximately £210,000 per year towards a range of projects aimed at boosting town centre footfall and trade.
The first term came to an end on 31 March 2023 and under current law a BID must test business support towards them continuing to operate through a ballot of eligible voters. This process started in early 2022 in Bishop’s Stortford, with all BID businesses invited to submit their thoughts on the success of the current plan and ideas for the next. Over 80 businesses contributed to this and the priority projects suggested by businesses have been included within the Business Plan, which was launched on 17 August.
We are delighted to confirm, following an extensive consultation and then a 28 day voting period, the Bishop’s Stortford BID has been re-elected for a new 5 year term, starting on 1 April 2023.
The official voting figures were:
- 74% in favour based on number of votes received
- 83% in favour based on rateable value of votes received
The Bishop’s Stortford BID Board, who are all volunteers from BID businesses, and the BID Manager would like to thank everyone who gave their feedback to help shape the plans and who voted.
The new business plan has 4 key areas of focus, and will provide an additional £975,000 over 5 years to deliver these exiting projects. You can read the full business plan here.
Reference Documents
- Information Sheet 1
- Information Sheet 2
- Information Sheet 3
- Information Sheet 4
- Information Sheet 5
- Business Plan
If you have any questions regarding the reballot or business plan, please contact Karen Burton at karen@bishopsstortfordbid.co.uk
