Local Firms Says Yes to Fulham Broadway BID

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Majority of firms vote for Business Improvement District, but not everyone agrees

The proposal to establish the Fulham Broadway Business Improvement District, or BID has been successful.

The full result of a ballot which closed earlier this month has been announced by H&F Chief Executive Kim Dero, who is the Ballot Holder.

It shows that a total of 111 votes were cast by local businesses, with 70 in favour.

BIDs are associations of local businesses, providing the opportunity for them to invest and have a direct say in the management of the area.

Hammersmith Town Centre already has a BID called HammersmithLondon and you can find out more about its work, including the Summer Festival currently running in Lyric Square at HammersmithLondon.

Those proposing the BID say uniquely in central London, Fulham Broadway as a designated Town Centre has remained largely unchanged. It is, in many ways, London’s best-kept secret as a place to shop and relax.

With more and more Business Improvement Districts being set up around London, town centres are becoming more competitive with each other. Fulham Broadway and the surrounding area has an opportunity to position itself as a visitor destination in its own right, with new venues such as Market Hall bringing in customers from across London and beyond.

However, not everyone is supportive of the BID, with one of our readers saying on our foru: "I think it is important that every business in the area knows they could be liable to pay a levy for the next 5 years if this goes through."

Campaigning website Against BIDs points out that, as shown by 'placemaking' specialists The Means website, the prime movers behind the new BID were Chelsea FC, who at the time were considering the implications of a three year absence from Stamford Bridge while its proposed new stadium was being built.

And it asks, with the new stadium having been shelved, how does the BID propose to continue when it was the cornerstone of the BID proposal?

The BID proposal meanwhile says that following consultation with the business community, the following priorities have been agreed for the proposed programme of improvements:

Business benefits: Driving down operating costs & increasing businesses opportunities
Place branding & marketing: Promoting the area & building a world-class brand
Niche & landmark events: Delivering a year-round programme of high quality events

You can find out more on the proposed BID's website and the BID prospectus.

 

July 27, 2018

 

 

July 27, 2018