The TRTBID initiative has now reached the decision phase. Business Plans and ballot papers have been posted to those businesses eligible to vote. A copy of the Business Plan is also available online here.
Around 200 business in Brixham, and 1,500 businesses in total across the BID area, have a rateable value of £7,500 or more and are eligible to take part in the postal ballot. Votes must be returned no later than 5pm on November 11. For the BID to go ahead more than half of the total number of businesses that vote must vote in favour and the ‘yes’ votes must represent more than 50 per cent of the total rateable value of all votes cast.
The result will be declared on November 12, and if the BID is approved, all businesses, regardless of how or if they voted, will be legally obliged to pay the 1.75 per cent levy each year for the next five years.
Brixham Chamber of Commerce are backing this initiative. Keith Williams, Chairman of the Chamber said “The TRTBID provides a fantastic opportunity for a sustainable model of funding for projects in Brixham and across Torbay that would be otherwise unavailable.
“Tourism and retail currently account for over 40% of Employment in Torbay. The TRTBID is fairly structured to suit all businesses, and it is very important that we back it so that funds are in place to compete with other towns/holiday destinations. It will also create opportunities to attract more business investment and employment to the Bay.
“On a personal level, as a high street retailer, the need to continue marketing Torbay as a shopping destination on a local and national level is critical to the success of my business.”