PENGE BUSINESSES URGED TO BACK BUSINESS IMPROVEMENT DISTRICT VOTE

Traders in Penge town centre are being urged to vote yes in a ballot over the future of their area.
 
A group of local businesses are looking to set up a Business Improvement District (BID) to provide services designed to bring more customers and more spending into the area. It will only happen if businesses vote for it before the 1st March in a ballot administered by Bromley council.

Over the past few weeks eligible businesses would have received a ballot paper from the council and a business plan that details the services that the BID is looking to offer. These include improved CCTV coverage, a group purchasing scheme designed to save traders money on bills, a free a point of use fly-tipping removal service for local businesses and street rangers to improve local security.

BIDs are both run and funded by local businesses. The Steering Group behind the PengeSE20 BID includes members representing local traders such as Designer Drapes, Fosdicks Newsagents, Kirvan Bond Solicitors, Goldstores, Property World and Solitaire Jewellers.

Mark Painter, of Property World and chairman of the Penge SE20 Steering Group said: “This BID is a once in a lifetime opportunity for Penge Town Centre, but it will only happen if traders vote YES and get those ballot papers back to the council.

“We all want to see our town centre prosper and with this vote its future is in our hands.”

Cllr Peter Morgan, Bromley’s executive councillor for renewal and recreation added: “We are supportive of this proposal because it will put the Penge business community firmly in the driving seat to help bring about further improvements in the town centre.

“Experience locally and from across the country shows that BIDs help generate additional investment into town centres and this will be the case for Penge too, which would be a good thing for everyone.” (Source: Bromley council press release)

STREATHAM FIRMS VOTE TO KEEP THEIR BID        
 
Businesses in Streatham have overwhelmingly backed proposals to continue with their Business Improvement District (BID) for another five years.

Over 83 per cent of firms that voted opted to keep the InStreatham BID, which will mainly be funded through a levy from local businesses. The BID will invest the money into boosting Streatham’s economy – by promoting the area, reducing business costs and improving the environment.

Since InStreatham was first established – with council support – in 2013, it has benefited from over £260,000 a year in levy income, in addition to additional funding attracted by the BID. The BID works closely with the council to create an environment which supports existing businesses to grow and new businesses to start-up.

The BID now has plans to further improve Streatham and develop it as a destination for shoppers, businesses and visitors from across London. (Source: Lambeth council’s Love Lambeth website)

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