Leicester businesses have voted in favour of a second term for the city’s Business Improvement District.
The Leicester BID team said there was a 57 per cent turnout among city centre businesses within the designated catchment area, with almost nine-in-10 – or 89 per cent – voting yes.
It means the business support body can go about raising funds to invest £4.5 million into Leicester over the five year term.
Each eligible business contributes a percentage of its rateable value to support the BID, while additional funding can be raised through sponsorship and grants and voluntary contributions.
During its first five years the BID helped gain national accreditation for the city’s night-time economy and helped shops and venues reopen safely after the pandemic.
It also helped bring people into the city for events such as Rocket Round Leicester, Bring The Paint, Restaurant Week, and brought in artists to help improve the appearance of empty shops.
The BID represents more than 580 businesses in the city centre and the recent vote was open to business units with a rateable value of £20,000 or more.
The second term will begin next February and will focus on raising the profile of the city through further events and marketing, creating a “cleaner, greener, and safer environment”, and providing a stronger business voice.
The second term will be boosted by the involvement of the University of Leicester which has become a “top-rate voluntary member”.
It means it will be easier for students, graduates, and staff to take advantage of city centre shops and businesses, and give the university a place on the BID board.
During the new term the BID’s geographic boundary will expand to encompass part of the Waterside area, including Leicester’s newest bowling and leisure destination Lane 7, inside the recently developed Grand Central Station.
BID Leicester director Simon Jenner said “We would like to thank our members for this fantastic vote of confidence, which highlights the BID’s impact in the city centre and is a testament to their support of our vision for the following five years.
“The vote is a sign of commitment from city centre businesses to the power of working in partnership and recognises the BID’s important role as a collective voice for the city centre.
“BID Leicester is incredibly proud of what has achieved in its first term and the quality of the projects, campaigns and events that have been delivered.
“We’re enthusiastically looking forward to another five years of working together with businesses and partners in the city to continue the great work which we have started.”
BID Leicester chair and McDonalds franchisee owner Angus Fraser said: “The BID’s success in securing a second term is great news for Leicester city centre.
“As a city centre business owner, I have experienced the direct impact that the BID has had on the city centre; from increased footfall and sales during BID sponsored events such as Light up Leicester and Bring the Paint, to an improvement in the attractiveness and cleanliness of the city overall due to BID initiatives and additional street washing services.
“Leicester has achieved a strong recovery in the wake of the pandemic, and this collaborative investment in the city centre will help to ensure that the city goes from strength to strength.”
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