The BID process begins when a number of local business begin to work together to identify commercial areas requiring improvement and change and a steering group is formed.
A new Love Great Western Road BID steering group was formed in March 2019 with representatives from Farrow & Ball, Hoos, Valhalla's Goat, The Copy & Print Shop, Roots, Fruits and Flowers, Achilles Heel, Cottonrake, Papercup and Paul McCarroll House of Travel. Please don't hesitate to get in touch if you'd like to join the steering group too.
The steering group applies for seed funding from the Scottish Government and (sometimes) the local council to undertake an in-depth consultation with local businesses which will identify areas of mutual commercial concern. The consultation also seeks to encourage participation in the steering group from a range of local business owners.
The BID steering group is be responsible for keeping local businesses up to speed with all BID process developments.
For the Love Great Western Road BID project, local business will receive regular LGWR newsletters, and be invited to BID progress meetings. All local business are encouraged to sign up to receive BID updates. The LGWR steering group can also be contacted by email.
BID business plan
A BID business plan will be drawn up, based on the findings of the consultation and will outline in detail the agreed commercial objectives over a 5 year period. This plan is not simply the work of the steering group, it’s a document which will created by consensus from members of the local business community. The plan will also detail how the BID will be constituted commercially - usually by formation of a not-for-profit company, managed by a board of volunteer directors from the local business community and other stakeholders. The BID business plan will outline how the commercial and financial objectives will be reached and what the scale of annual investment from each local businesses will be.
ALL ABOUT BIDs
Once the business plan is complete a ballot of local businesses will be held. A majority vote is required for the BID to formally come into being.
The date of the Love Great Western Road BID ballot will be announced once the consultation is complete and the business plan circulated.