Newham businesses vote 'yes' to BID
Friday 6th July, 2018
Newham businesses have voted ‘yes’ to a second term as a Business Improvement District (BID) with a strong mandate from its business community.
A total of 79 Newham businesses took part in the ballot, a turnout of 57%. Of those voters, 68 were in favour, representing an 86% majority by number and 91% by rateable value.
The ballot results were higher than in the first term demonstrating that the BID has made a big difference to Newham and that businesses didn’t want to lose those benefits.
The new five-year term will begin on 1st September 2018 with circa £76K each year to be spent on delivering projects and services in the thriving riverside business district. Each of these priorities have been highlighted by the businesses as outlined in Newham’s BID Business Plan.
Carole Theobald, Chair of the BID said: "The yes vote is fantastic news for Newham and it is great that businesses have recognised the worth of the BID. Newham is home to a diverse range of businesses all keen to see themselves and our business community thrive and we are looking forward to continuing to work together. Thank you to everyone who supported us."
The BID has used its funds to deliver projects such as increased CCTV coverage, new eye-catching signage, targeted marketing and awareness campaigns and road and green space maintenance.
South West insurance company Cornish Mutual has staff based across the South West, but its headquarters is at Newham.
Cornish Mutual Finance and Operations Director Peter Beaumont said: "Cornish Mutual is delighted that the Newham BID has been voted in for a second term. The BID has led to a number of initiatives that have given local businesses a boost, from attracting more customers to improving security.