Stockport Town Centre Business Improvement District (BID) Q&A

This page explains some of the key elements of the BID and where to get help.

Business Improvement Districts (BIDs)

A business improvement district (BID) is a defined area within which businesses are required to pay a percentage levy based on Rateable Values (RV) to fund projects within the district’s boundaries. BIDs are designed to improve the economic performance of an area.

BIDs create significant sums of investment across the UK and participating businesses and employers use the monies they gather through a small levy to pay for improvements that benefit businesses. Typically these include such items as improved public realm, Christmas lighting, special festivals, additional security, CCTV and local discount schemes for customers, local employers and their staff which all provide a better amenity for shoppers, employees and business visitors.

Through joint working BIDs can help businesses make savings by bulk buying services such as utilities, increase opportunities for apprenticeships and work experience, and increase marketing activity to drive footfall and improve the overall perception of the town centre. The overall objective is to improve an area so that all business sectors benefit.

There are now over 250 BIDs in the UK.

Stockport Town Centre BID

In October 2016 Stockport Town Centre businesses gave their resolute backing to making the town centre a Business Improvement District (BID) in a ballot.

Who carried out the BID Ballot in October 2016?

The Stockport Town Centre BID Ballot was carried out by independent electoral services provider UK Engage.

A total of 193 businesses took part in the ballot. Of those votes, 125 were in favour, representing 64.7% majority by number.

On 1st April 2017

5 years

The Stockport BID will unlock almost £2.5m of funding over the five-year-period

From 1st April 2017, the funds that are raised by the levy will be spent on projects that the businesses within the BID area themselves have indicated as priorities; which were included in the BID prospectus prior to the ballot.

Businesses on the outskirts of the town, or indeed those within the town under the £10,000 threshold, who will benefit from a more vibrant, successful town centre are invited to contribute £100 to enable more to be achieved.

For the first 6 months of the BID, an Interim BID Board has been established to help get the BID underway. An Interim BID Manager has also been appointed.

Arrangements are currently underway to establish a formal BID board, (through invitations and expressions of interest). Formal recruitment processes are also underway for the appointment of a BID Manager.

1.27%

Yes. Businesses with an RV of less than £10,000.

There are 5 different ways you can make payment.

Pay Online – By debit/credit cards on our website: go to www.stockport.gov.uk/payments (Visa, MasterCard, Maestro, Solo, Visa Electron or Delta are accepted)

Pay by Phone – Phone our 24 hour payment line on 0161 474 4050. You will need your debit/credit card and Account Number.

Pay by BACS – Send your payment electronically using the BACS system quoting the Council’s details: Barclays Bank PLC, sort code: 20-82-13, account number 10840181. Remember to quote your Account Number and send any remittance to receipts@stockport.gov.uk

Pay by Standing Order – You can set up a standing order at your bank or building society quoting the Council’s details: Barclays Bank PLC, sort code: 20-82-13, account number 10840181. Remember to quote your Account Number as shown on your bill.

Pay by Post – Cheques should be made payable to Stockport Metropolitan Borough Council. Write your Account Number on the back and send to: Technical and Exchequer (Payments), Stockport Metropolitan Borough Council, Town Hall, Stockport, SK1 3XE.

Under the BID legislation, the Local Authority is required to collect the BID levy on behalf of the BID. The collected levy funds are handed over to the BID under an agreed ‘Operational Agreement’.

If you no longer occupy a property within the BID area, or have just become liable for one, please contact the Business Rates team at Stockport Council. Please see www.stockport.gov.uk/topic/business-rates for more information.

For more information regarding the BID please contact Totally Stockport on 0161 537 9382 or send an email to info@totallystockport.co.uk

These are the BID levy rules:

1. The term of the BID will be a period of five years from 1 April 2022-31 March 2027.
2. The BID levy will be applied to hereditaments (rateable properties) with a rateable value of £10,000 and over.
3. The BID levy will be calculated at a rate of 1.25% of the rateable value using the 2017 ratings list.
4. The BID levy will assume a growth of either 0.5% or at the rate of inflation (whichever is lower) applied on 1st April each year for the duration of the BID.
5. Properties that come into the rating list during the BID term will be subject to the BID levy from the effective date that the property is brought into the rating list and the rateable value effective at that time.
6. No refunds will be given.
7. Where a ratepayer receives mandatory charitable relief from business rates, 80% relief from the BID levy will be allowed.
8. Eligible empty properties will be liable for the BID levy via the property owner with no void period or any empty allowance.
9. Mobile phone equipment, ATMs (cash machines) and advertising hoardings will be excluded from the levy.
10. There will be no VAT charged on the BID levy.
11. There will be an upper limit on the BID levy of £15,000 per annum, per hereditament.
12. The proposer of the BID is Stockport Town Centre Business Improvement District (BID) Limited, and in the event of a successful ballot they will be the BID Body. 13. Levy payers are entitled to become members of the company on application to the company.
14. Directors are appointed either by the board of directors but must be ratified at the next general meeting of members; or at a general meeting where formal notice has been given in advance of the desire if a member wants to become a director. There are 487 businesses who would be liable for the BID levy and who would be able to vote in the BID ballot. The chart on page 36 shows the number of businesses by sector that would make up the BID. This includes properties occupied by the Council who will pay the BID levy like any other businesses.

We welcome your ideas and input. If you are interested Get in touch please email the bid.

Contact Totally Stockport’s BID Office Manager Lisa Noel – lisa.noel@totallystockport.co.uk

Call the Totally Stockport office on 0161 537 9382 or call in to: Suite G1.3, STOK 43-59 Prince’s Street, Stockport SK1 1RY