What is the levy geography (ie does the BID potentially impact my business)?

The geography of levy payers that would pay the BID levy if voted in ranges from Mead Lane through to Riverside Business Parks. A full list of roads is available on P5 of the Business Plan

What will be the benefits if the BID is voted in?

The business plan is still be finalised, but the planned £1.5m investment raised through the levy is aimed to be spent on Marketing, Promotions & Events (£520k over 5yrs), Safety and Cleanliness (£370k over 5 yrs), Business Support (£155k over 5 yrs), Access & Travel (£255k over 5yrs) and a Town Centre Manager. Again more details can be seen on the business plan .

What % of your votes make the BID go through?

For the BID to go ahead, two conditions must be met: 1. More than 50% of businesses that vote must vote in favour. 2. The businesses that vote ‘YES’ must represent more than 50% of the total rateable value of all votes cast.

If the BID is voted in, how much will it cost my business?

The BID levy is proposed at 2% of your rateable value of your premises if inside the BID levy geography. This only applies if your rateable value is over £5k (nb not how much your rate bill is but your rateable value) and your premises is not classified as a industrial, manufacturing, storage and workshop. Also worth noting if you are currently benefiting from SBRR (small business rate relief) this does not negate your requirement to pay the levy if the BID is voted in.

How will the BID measure success if voted in?

Farnham BID and its board will keep levy payers up to date on all the projects that the BID will implement over the 5 year term in a variety of ways. It will demonstrate that it is delivering against its objectives. The board will set the key performance indicators (KPIs) and criteria upon which to measure the BID’s performance. Examples of the criteria the BID may include: • Footfall figures • Visitor numbers • Rental levels • Attraction numbers • Business mix • Car parking usage • Public transport usage • New business activity • Annual surveys • Business feedback • Consumer feedback • Monitor spend figures • Media coverage • Website/social media interactions

How long will the BID last for?

The BID if voted in is a 5 year commitment.

I have received a ballot paper but it is made out to the wrong company

This means the registration with Waverley is incorrect for your premises. Please inform the BID co-ordinator who can arrange a correct voting ballot paper to be issued.

Will VAT or inflation apply to the BID levy if voted in?

There will be no VAT applied, and the rate will be a flat rate over the 5 years.

My business is outside the levy geography but I would like to contribute and benefit.

Voluntary Contributions: Voluntary investment can be made by any businesses that are exempt such as those that have a rateable value less than £5,000 or businesses located outside the BID area. This will entitle them to all the projects and services outlined in this business plan as well as full rights as members in the management and governance of the BID company. Details and eligibility will be set by the Board.

I am interested in being involved with the BID leadership, how can I pursue this?

BID Membership: Any BID levy payer or equivalent financial contributor can become a member of the BID Company. This enables them to take part in the decision-making process, as well as stand for and vote during Board of Director elections.

Farnham BID voting commences

Get in touch

555-555-5555

mymail@mailservice.com

October 4, 2023

Farnham BID ballot opens

The BID is very relevant to many of our members with premises located in the town, but also to members who use Farnham. If you have business premises (and are a rate payer with rateable value over £5k) then you would have received a ballot paper this week. It is very important you vote either way, as the outcome can be decided on a percentage of the turnout, even if the turnout is low, which can have an implication for the next 5 years. Voting ballot papers must be returned before the end of October.

The Farnham Chamber of Commerce stands independently from the BID (as many of our members are outside the town centre geography) but are keen to ensure our members have a good understanding of the BID so those can vote relevantly. The Chamber also serves as a conduit back to the BID working group if you have questions. We have tried to answer some relevant questions below, and here is a direct link to the BID co-ordinator who would be more than happy to assist.

Farnham BID FAQ

What is the levy geography (ie does the BID potentially impact my business)?

The geography of levy payers that would pay the BID levy if voted in ranges from Mead Lane through to Riverside Business Parks. A full list of roads is available on P5 of the Business Plan
What will be the benefits if the BID is voted in?

The business plan is still be finalised, but the planned £1.5m investment raised through the levy is aimed to be spent on Marketing, Promotions & Events (£520k over 5yrs), Safety and Cleanliness (£370k over 5 yrs), Business Support (£155k over 5 yrs), Access & Travel (£255k over 5yrs) and a Town Centre Manager. Again more details can be seen on the business plan.
What % of your votes make the BID go through?

For the BID to go ahead, two conditions must be met:
1. More than 50% of businesses that vote must vote in favour.
2. The businesses that vote ‘YES’ must represent more than 50% of the total rateable value of all votes cast.
If the BID is voted in, how much will it cost my business?

The BID levy is proposed at 2% of your rateable value of your premises if inside the BID levy geography. This only applies if your rateable value is over £5k (nb not how much your rate bill is but your rateable value) and your premises is not classified as a industrial, manufacturing, storage and workshop. Also worth noting if you are currently benefiting from SBRR (small business rate relief) this does not negate your requirement to pay the levy if the BID is voted in.
How will the BID measure success if voted in?

Farnham BID and its board will keep levy payers up to date on all the projects that the BID will implement over the 5 year term in a variety of ways. It will demonstrate that it is delivering against its objectives. The board will set the key performance indicators (KPIs) and criteria upon which to measure the BID’s performance. Examples of the criteria the BID may include:

• Footfall figures
• Visitor numbers
• Rental levels
• Attraction numbers
• Business mix
• Car parking usage
• Public transport usage
• New business activity • Annual surveys
• Business feedback
• Consumer feedback
• Monitor spend figures • Media coverage
• Website/social media interactions
How long will the BID last for?

The BID if voted in is a 5 year commitment.
I have received a ballot paper but it is made out to the wrong company

This means the registration with Waverley is incorrect for your premises. Please inform the BID co-ordinator who can arrange a correct voting ballot paper to be issued.
Will VAT or inflation apply to the BID levy if voted in?

There will be no VAT applied, and the rate will be a flat rate over the 5 years.
My business is outside the levy geography but I would like to contribute and benefit.

Voluntary Contributions: Voluntary investment can be made by any businesses that are exempt such as those that have a rateable value less than £5,000 or businesses located outside the BID area. This will entitle them to all the projects and services outlined in this business plan as well as full rights as members in the management and governance of the BID company. Details and eligibility will be set by the Board.
I am interested in being involved with the BID leadership, how can I pursue this?

BID Membership: Any BID levy payer or equivalent financial contributor can become a member of the BID Company. This enables them to take part in the decision-making process, as well as stand for and vote during Board of Director elections.

Download the Farnham BID Business Plan

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