STATION TO STATION BID: YOUR QUESTIONS ANSWERED
Station to Station Business Improvement District (BID) is a new not-for-profit company limited by guarantee. It has been set up to increase the attractiveness and appeal of West Norwood & Tulse Hill as a commercial destination. It exists for five years before seeking renewal through a ballot in 2021. All the BID’s services are extra to those funded through business rates.
Station to Station is funded by an annual levy of 1.5% of rateable value on all eligible businesses. So if the rateable value on your premises is £20,000, you will pay £300 p/a. The levy will be amended on an annual basis in line with inflation at a rate to be agreed by the Station to Station Board.
As the ballot was successful the levy becomes a statutory requirement with the force of law. The levy is discounted for charities at the same rates as business rates. The BID levy will be collected through the current Business Rates system but will be the subject of a separate bill.
All levy-paying businesses in the BID area are invited to join as members. The BID board will recruit and manage the executive team to deliver on the goals identified in this plan.
Most businesses recognise that there are a number of factors affecting their businesses over which they would normally have no control. These could include customer perceptions of the town, street management, vacant units and a lack of promotional opportunities to name a few. Station to Station will provide that control and provide a financial mechanism to enable the business community to act effectively.
Voluntary membership of Station to Station is open to all businesses outside of the core BID area. Businesses or organisations wishing to become members of BID Limited voluntarily are invited to make an application for membership by contacting the office at email@example.com. Your annual fee will be calculated based on your rateable value and you will be able to benefit from any applicable services.