Banbury Conservatives have welcomed a vote by town centre businesses to renew the Banbury BID for another five years.
Business Improvement Districts (BIDs) are business-led and business-funded organisations that work to support and promote small and independent businesses within a defined commercial area. The Banbury BID was set up in 2018 and has been responsible for many exciting initiatives in the town including themed town centre trails, light projections for Remembrance and Christmas and the successful Victorian Christmas Market held last November.
The BID is funded by an additional levy of 1.5% on the rateable value of qualifying businesses raising roughly £200,000 a year for spend on events and projects to help promote the town’s retail, cultural and leisure offer and increase the footfall of shoppers and visitors to the town centre.
Banbury Conservatives said: “We are pleased that town centre businesses have voted to renew the BID for the next five years. The BID’s new leadership team led by Jasmine Gilhooly are really passionate about supporting Banbury’s diverse range of independent retailers and promoting all that our town centre has to offer. They have our full support.”