South Bank BID is very pleased to announce that businesses in South Bank have voted an overwhelming ‘Yes’ to seeing the work of the BID continue for a third term, thereby enabling over £8 million to be invested directly back into the neighbourhood over the five-year term, which starts on 1 October 2024.
During the past four weeks of the ballot, eligible BID levy payers have had the opportunity to cast their vote and shape the future of the area over the next five years.
Out of all valid votes received, 99.34% of the businesses that voted were in favour of the BID continuing for a third term. And these 'Yes' votes equated to 99.55% of the total rateable value of the business premises of those that voted.
As with all BID ballots, South Bank BID needed to secure the majority (50% plus) on both measures. To do to this so convincingly is a clear demonstration of the South Bank’s business community’s support for the collective investment that’s delivered through South Bank BID and the BID model.
By voting ‘Yes’ in the Ballot, businesses have given South Bank BID the mandate to deliver on four ambitious areas of activity, which meet the demands of the ever-changing business landscape in South Bank.
A Safe & Sustainable South Bank
A Vibrant & Promoted South Bank
A Sustainable & Resilient South Bank
A Supported & Connected South Bank
These four themes bring together the services the BID delivers under our overarching vision of creating a world-class South Bank for everyone - those who work, live and study in this unique neighbourhood, and those that visit here for business and leisure.
Commenting on the result, Govert Deketh, Chair of the South Bank BID Board said,
“Following a then UK record renewal ballot result in 2019, we’re delighted that once again we’ve seen businesses show exceptional support for the BID, and a commitment to take forward an ambitious programme of activity. We will continue to build on the work we’ve delivered in South Bank over the past ten years, with our focus on core areas such as safety and security, and area promotion that highlights this world-class neighbourhood. Alongside this, we will also expand the BID’s delivery further into new and exciting areas that reflect the interests and concerns of our businesses, such as achieving our shared Net Zero ambitions.
Many thanks to all those who voted in the ballot. The Board and the BID team look forward to continuing to work with the business community and other key partners over the next five years to ensure a safe, resilient, vibrant, and sustainable South Bank.”
South Bank BID’s third term will begin on 1 October 2024 - to learn more about the BID’s vision and proposed plan of activity, you can find the Business Plan here.
If you’d like any further information about the BID’s services and how they support your business, get in touch at BID@southbanklondon.com.
