Who are FOR Cardiff?
Formerly known as Cardiff BID, the FOR Cardiff year long consultation process involved surveys, business workshops, and face to face meetings with businesses, public agencies and stakeholders. This information was then compiled into a five-year business plan.
This plan proposed a 1% levy on all businesses in the area with a rateable value of £25,000 and above. It was then sent to all relevant businesses in the summer of 2016 outlining what projects the BID would deliver, the area, budgets, legislation guidelines and governance (available to download on our website www.forcardiff. com).
Those eligible businesses were asked to take part in a month long independent postal ballot (conducted by the Electoral Reform Service) to vote on whether they wanted Cardiff to have a BID or not. In July 2016 ERS announced the result that 84% of those businesses who voted were in favour of the BID. That vote gave the go-ahead for the BID to take forward the five year Business Plan and drive investment in the City Centre and gave local businesses a greater say in the way it is marketed, maintained and managed. The BID came into operation in November 2016 and changed its name to For Cardiff in October 2017 to ensure the company name was more representative of the organisation’s purpose. The team are now delivering a £7.5 million investment in the area from 2016-2021.
WHAT ARE BIDS?
BIDs are an arrangement whereby businesses come together and decide which improvements they feel could be made in their city centre, and also how they will implement these improvements and what it will cost them. BIDs are financed and controlled by the businesses within the selected area. BIDs can run for a maximum of five years and during this time they must be able to show that they are benefitting the businesses that fund it.
WHY DO WE NEED A BID?
Cardiff is a thriving city centre of regional and national importance, yet it needs to raise its game and invest to remain competitive in the face of growing competition. It will need to do this against the background of tighter public sector finances and other cities who already have BIDs in place injecting several hundred thousand pounds a year into their locations. By obtaining BID status for Cardiff City Centre enables the private sector (retail, leisure, tourism, office and commercial) to decide the projects and services that should be delivered in their area to ensure that Cardiff has a stronger profile, attracting visitors, increasing footfall, more spending, directly supporting businesses and encouraging investment.
WHAT DOES THIS MEAN FOR CARDIFF?
- 130 STREETS
- £7.5 MILLION New business investment
- 1% BID LEVY
- £160,000,000 rateable value
- 5 YEAR BID PLAN
- 15 PERSON BUSINESS LED BOARD
- 700 Businesses & organisations involved
- 3 PRIORITIES Welcoming, Vibrant & Influential
- 990 PROPERTIES INCLUDED
WHAT WAS IN THE BUSINESS PLAN?
THE BUSINESS PLAN FALLS INTO 3 MAIN PROJECT AREAS
A. Welcoming – £3M OVER 5 YEARS Businesses said they want to improve standards and the presentation of the city centre, making it look good, feel safer and better managed. We are delivering quality public realm projects, cleaner streets, enforcement of anti-social and unlicensed activity, and investment to ensure customers can enjoy the night time economy without fears about safety and anti-social behaviour.
B. Vibrant – £4M OVER 5 YEARS Cardiff has a great profile across the UK and globally as a city of attractions, big brands and independent shopping, international sport, culture and entertainment. There are 1.6 million people living within an hour’s travel to the city centre and a footfall of 40 million a year. We invest in and prioritise projects that improve the city centre experience, whether for residents, students, employees, or visitors. We work on projects that celebrate the city and bring in new audiences both regionally, nationally and internationally. We are also prioritising our current customers encouraging them to visit more frequently, explore other parts of the city and keep them here for longer. This makes our city centre busier and more vibrant, both day and night, and all year-round for you and your business.
C. Influential – £500K OVER 5 YEARS The business community needed to work more collectively, binding all the key sectors together around mutual priorities. We are an independent business voice that is heard on the bigger issues, with the resources and clout to get things done and help you perform effectively. The Cardiff business environment is clearly on the move and we represent your interests wherever we can.
VOLUNTARY MEMBERSHIP AND ADDITIONAL INCOME
For Cardiff runs a voluntary membership scheme for businesses in the BID area with a rateable value of less than £25,000, or for those who are outside retail, leisure, culture, tourism and office sectors. Businesses who wish to join this scheme make a voluntary investment which entitles them to all the projects and services outlined in the Business Plan. For Cardiff also proactively seeks additional income, grants and project match funding to deliver further value for money.
For further information please visit https://www.forcardiff.com