Bermondsey businesses will go to the polls next month to decide whether they want to continue paying financial contributions to the Business Improvement District (BID). It would be madness to vote no.
Some shop owners might be reluctant to commit to more spending at a time when financial pressures are already acute. But local businesses need to take the long view and recognise that their small contributions, starting at £93.75 per year, can result in millions of pounds worth of funding.
In fact, it already has. The BID team has gathered £2.3 million in external investment since 2014 and the Blue looks markedly different compared to when they took over. The permanent canopies are making it more appealing to potential traders and the area is simply a nicer place to be since it was renovated.
There is still a long way to go. Those who grow up in Bermondsey will remember when the market was bustling and, admittedly, the Blue still hasn’t returned to those halcyon days. But we’d be wrong to give up on our high streets just yet. While shopping habits have changed, people’s desire for community hasn’t. Without joining together in a unified voice, it will be much harder to restore the Blue to its former glory.
What’s more given the huge development taking place in the Blue BID area around the Biscuit Factory complex it is important to have an organisation that brings together all the small businesses, so they can capitalise on any funding available.
The Blue in Bermondsey is ‘on the brink of new chapter’ as businesses urged to vote yes to the BID