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CSM Financial Services

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People Essentials

The Big Question

Journalist Richard Maynard talks to a business figure making an impact on the commercial community.

Newbury votes for the BID

NEWBURY businesses have voted to adopt a scheme which is estimated will provide more than a £1million in extra investment in town centre projects.

Of the turnout, 72 per cent of the businesses asked to vote on whether to adopt a business improvement district (BID), voted in favour of the scheme.

Within the new BID area, which is bordered by Western Avenue in the north, Station Road in the south, the A339 in the east and Bartholomew Road north of the railway line in the west, each business will pay a one per cent levy based on the rateable value of the size of their company.

The BID team has estimated that the levy will generate £1,060,000 over a five year period for town centre projects and improvements.

The result was announced at West Berkshire Council’s chamber at approximately 3.45pm yesterday (Tuesday).

Of the 630 companies which were eligible to vote in the ballot 276 voted, of which 197 voted in favour of the BID, with 76 against.

Newbury BID manager Russell Downing said that the turnout of 43.8 per cent compared favourably to other BID ballots.

He added: “This is a fantastic result for Newbury and West Berkshire and clearly demonstrates the appetite for local business to tae control of their trading environment and start managing our high streets like a professional business.”

BID co-ordinator Caroline Paus said: “Our new BID will allow businesses, property owners and public services to work together in a close partnership ensuring we are all pulling in the same direction; working hard to make sure Newbury is a great place for business and customer alike.”

For more, read this Thursday’s Newbury Weekly News.

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