Stratford Original BID has been operating since April 2015 and in October 2019, we will have our first renewal ballot. We are hoping to secure another five years to deliver our mission to fulfill the potential of the original Stratford by moving Stratford forward. Stratford is the place where commerce meets culture, community and connectivity. A place in constant evolution shaped by the past and open to the future. Stratford is the place we are passionate about and committed to helping develop and prosper.
Following an extensive consultation carried out with our members, we have captured ambitions, ideas and aspirations to move Stratford forward. The formal consultation started in February 2019 and carried on to June 2019 and six priorities were identified.
Stratford Original BID will commit to putting safety first, shaping change, being one business voice, delivering value, investing in placemaking and communicating and delivering events.
Let's move Stratford forward this October with a YES vote.
The Stratford Original BID (Business Improvement District) is a not for profit organisation funded and led by the local business community. There are over 320 BIDs in the UK and over 60 in London, BIDs are leading on the delivery of bespoke solutions to local business priorities.
Stratford Original BID is funded by local businesses within the area boundary. The BID levy is raised in addition to business rates. We have also been successful in securing external funding for £425,000 over the first term. The Executive Team is overseen by a Board of volunteer Directors made up of local businesses owners and managers who dedicate their time to moving Stratford forward.
Due to National legislation, BIDs have a five-year lifespan. They are established through a democratic ballot. Every five years, local businesses have the chance to vote in favour (or against) the establishment of such organisations. Once there is a majority, the five years term starts. Our first term will come to an end in March 2020. We need your YES vote to achieve a successful renewal ballot.
From 1st October to 31st October 2019, eligible local businesses have the chance to express their support for another five years in the renewal ballot.
In Stratford, every business that is based within the boundary area and with a Rateable Value (RV) of £12,000 or over will have the right to vote. We have set the ‘minimum threshold’ at £12,000 RV to align with those businesses who are already eligible to pay business rates.
Not sure what your RV is? Click here to find out.
Businesses who are within the boundary area and have an RV below the minimum threshold of £12,000 can remain involved with the activities of the Stratford Original BID by opting into the Stratford Original BID Business Club. Business Club members will, however, not be eligible to vote at any renewal ballot.
If the BID is successful at the renewal ballot, a mandatory levy of 1.5% will continue to be applied in addition to business rates. Businesses based within the Stratford Centre will pay a discounted levy of 0.75%.
This means that if your RV is £12,000, your levy will be £180 per year. If you are a registered charity, then you are in for an 80% discount on your levy.
You are voting on fulfilling the potential of the original Stratford by moving Stratford forward over the next five years. The BID model is entirely based on local businesses identifying priorities for the area.
During our extensive consultation carried out the part of 2019, Stratford Original BID developed your ambitions, ideas, and aspirations into business plan known as the BID proposal.
The Moving Stratford Forward proposal was developed following input from the Board, Steering groups, 109 meetings with members and feedback from statutory organisations. The proposal is available on this website and a printed version can be requested at any time.
Your vote in October 2019 will be based on your agreement to support our vision and proposal for the period 2020 to 2025.
If you decide not to vote, you will not have a say on whether the BID continues for another five years. If more than 50% of eligible voters vote no, the Stratford Original BID will cease to operate in March 2020.
To have a successful renewal ballot, the Stratford Original BID will need at least 50% +1 of eligible voters voting yes in both numerical and rateable value. If the BID is successful in achieving the renewal ballot, you will still be a part of the BID for the next five years regardless of whether you abstained or voted against.
We believe that all businesses should vote yes as the stronger the mandate, the stronger the voice of businesses in Stratford.
On the 1st October 2019, an independent organisation called Electoral Reform Service (ERS) will post your ballot papers directly to your business address. Please look out for an orange envelope, cast your vote and then post it back using the prepaid envelope provided.
You have time until 5pm on the 31st October 2019 but please do not leave it too late.
From its inception, Stratford Original BID has grown to become a vital mechanism for the business community to deliver initiatives to fulfill the potential of the original Stratford.
If you have any ideas, suggestions or would like to be more involved, please get in touch via email, phone or just come and say hi to us in our office.
We welcome any opportunity to talk through our Moving Stratford Forward proposal to ensure you support our vision with a YES vote.
Here is a condensed list of some of the key achievements funded by your levy.