Our business plan

Banbury BID was set up following a feasibility study, a consultation with town centre businesses and organisations, and then a ballot of levy-payers in October/November 2017. The consultation developed a list of priorities for the BID to work on. These are set out in our 2018-2023 Business Plan which you can read here:

banbury-bid-business-plan-2018-2023

This is a summary of the core themes:

BETTER PROMOTED

Budget £205,000 over 5 years

  • Targeted campaigns to highlight the attractions of Banbury to new visitor catchments
  • High-quality town centre branding to underpin a range of new promotional activities
  • The use of social media channels to promote Banbury and build customer loyalty
  • Promotion of the town to a regional & national audience

Learn more

MORE VIBRANT

Budget £250,000 over 5 years

  • Projects to increase footfall during quieter trading periods
  • Enhancement of the current street markets
  • Enhancements to the appearance and use of vacant units
  • Work to expand the impact of current events

Learn more

 

 

BETTER FOR BUSINESSES

Budget £125,000 over 5 years

  • Providing a range of support projects for independent businesses
  • Work to attract new businesses into Banbury town centre
  • Negotiating reduced parking rates for business staff
  • Forming key partnerships with local organisations to add weight to improvement projects

Learn more

 

 

BETTER FOR VISITORS

Budget £90,100 over 5 years

  • Market research to inform key projects to increase visitor numbers
  • Lobbying for car park improvements and additional car parking spaces
  • Partnerships with key bodies to bring about further town centre improvements
  • Working to influence the reinstatement of key bus services

Learn more

WORKING FOR YOU

Budget £380,250 over 5 years

  • Employing a professional team of staff, headed up by a Director to drive forwards all BID projects & activities
  • Work to raise the quality, co-ordination and promotion of the evening & night-time offer in the town centre
  • Enacting a series of initiatives in order to gain the prestigious Purple Flag accreditation for the evening & night-time economy
  • Wherever possible, recycling the local pound by using local businesses to help carry out BID projects

Learn more

 

Each business or organisation in the agreed town centre area contributes an annual amount based on its Rateable Value (RV) to help fund the projects in the Banbury BID Business Plan. There is a Rateable Value threshold for Banbury BID of £4,750. Businesses or organisations whose RV is below that figure pay no levy but are welcome to make a voluntary contribution. All contributions are collected on behalf of Banbury BID by Cherwell District Council.

The total budget for Banbury BID in each of its five years was estimated at circa £225,000pa.

After five years – according to national BID legislation – levy-paying businesses and organisations have the opportunity to vote in a re-ballot on whether the BID should continue for a second term.