A detailed plan of how £750k could be spent on improving business for over 450 businesses in Newquay has been published this week by Newquay BID, the not for profit limited company behind the proposed Business Improvement District (BID).
The document, ‘The Final Proposal for the creation of a Business Improvement District in Newquay’ is being distributed to more than 450 businesses within the BID area this week highlighting the difference that the scheme could make for the town from April this year. But the scheme will only go ahead if a majority of businesses vote ‘yes’ for it at a ballot to be held next month.
Three key projects have been outlined, to include Marketing, PR and Image; Events; and Street Environment, all designed to drive more visitors to Newquay.
Veryan Armstrong of The Headland Hotel ,who is chairperson of the Newquay BID Steering Group said: “This is an amazing opportunity for businesses in Newquay to work together to improve the prospects of the resort, boosting all our income and conveying a positive image of Newquay at the same time.
“Whilst it is a difficult time to find extra money, equally we cannot afford to do nothing whilst other UK resorts are promoting themselves to visitors that otherwise might come here.”
As well as projects aimed at increasing business profits, Newquay BID has also pledged to introduce schemes that will save businesses money over the lifetime of the BID by using the power of numbers to drive down business costs.
£750k would be raised over five years through businesses contributing 1% of their rateable value into a ring-fenced pot to be spent only on projects for Newquay, projects that have already been identified by businesses during the 12 month consultation period.
Andy Cole, Owner of Andy’s Café on East Street said: “We’ve spent a lot of time over the last year consulting businesses about what they want for the future, and we’re confident that the BID will deliver improvements exactly where they are needed. Working together by combining our skills and financial resources has to be the way forward.”
There are plans to further boost the BID coffers by securing additional funding through grants, sponsorship, from landlords and voluntary contributors outside the boundary.
A postal ballot through which businesses can vote for or against the BID will be launched in early February. The ballot closes on Wednesday March 9.
If approved, Newquay BID will become the third BID in Cornwall, following Truro’s BID established in 2007 and Falmouth’s BID in 2009. A BID is also currently being developed for Camborne.
Newquay BID has prepared a short A4 document entitled ‘The Newquay BID, What’s in it for me?’ These leaflets will be distributed with the final proposal or can be downloaded here.