Who is eligible to vote?
All businesses within the BID boundary (see map) with a rateable value of £30,000 or more will be able to vote.
How will the BID improve my business?
Supporting Cambridge BID will bring an additional £4.5million investment into your city, providing additional services which, in turn, will help raise the profile and ensure a world-class experience for all who visit.
Is this a way for the Council to save money?
No. The BID is a business-led, independent, not-for-profit company. All projects have to be in addition to those provided by the Local Authority. The BID will be governed by a board of Directors that represent the business sectors within the BID area.
Shouldn't my Business Rates cover this?
Business rates are a property tax collected by the Local Authority and then distributed at a national level. The Local Authority spends the allocated funding on services that are both statutory and discretionary and you have no control over these spending decisions. All the monies raised from the BID are spent in the city.
Who decides on what the money is spent?
The Business Plan has been drawn up following extensive consultation with businesses and city stakeholders. All BID businesses can attend our Advisory Groups where project delivery is discussed and agreed. BID businesses can also raise any issues with individual board members or members of the BID Management Team.
What happens if it's a 'No' vote?
If the BID is not renewed, Cambridge will lose the £4.5million worth of investment over the five-year term. The projects outlined in the Business Plan would cease to exist, for example Christmas Lights, Rapid Response and the Mystery Shop programme. Without a BID, Cambridge would no longer have an organisation dedicated to working on behalf of every business driving Cambridge forward.
“Cambridge BID provides excellent, practical support to help our staff deliver the best possible service to customers. At the same time, they have helped to bring Cambridge businesses together to find that synergy which comes
from being ‘joined up’ and this is especially important to local independent businesses.”
