Businesses across Streatham have voted in favour of renewing their status as a Business Improvement District (BID) for another five years.
80% of businesses voted in favour of the BID renewal by number and 87% by Rateable Value.
As a result of the YES vote, the renewal of InStreatham BID will commence on the 1st April 2023. Businesses with a rateable value of £9,999 or above will pay a levy based upon their rateable value, creating a collective fund of more than £1.25M to be invested in the Streatham business community over the next five years.
The BID’s third term Business Plan objectives are:
- Future Streatham – lobbying and strategising for change
- Destination Streatham – effective place management that allows streatham to achieve its potential as a destination – not a drive through
- Celebrate Streatham – marketing streatham to residents and visitors to drive footfall and build confidence
- Sustainable Streatham – programme of bespoke schemes that help our businesses be smarter, greener and cleaner
Chair of the BID Razin Omar, from Holmes Estates said: “This is fantastic news and a huge congratulations must go to all the businesses that rallied and joined forces to ensure we secured a yes vote in our renewal ballot. InStreatham will continue to be the voice of business by lobbying on topics which affect them to ensure that Streatham remains relevant and flexible in an ever-changing environment.”
BID Manager Louise added: “We have a fantastic high street. There’s a marvellous mix of independent retailers and High Street chains, and events that attract hundreds of visitors. Streatham, like many high streets, towns and cities across the UK, faces challenges ahead. But, only by working together, in partnership, can we flourish.
This endorsement for another five years will enable the BID to build on its achievements.”
To get involved in the shaping of the delivery of the new plan please contact the team here.