The Evolution of Londons Business Improvement Districts June 2016 - PowerPoint PPT Presentation

The Evolution of London’s Business Improvement Districts June 2016 The Evolution of London’s BIDs 05/05/2016

Contents • 50 BIDs and counting – 5 in Camden; 2 in Islington; 8 in Westminster . . . • Future of London and Rocket Science report for GLA (March 2016) Download from http://bit.ly/ldn-bids • Where next for BIDs in London and how can they support civil society in the capital? • Summary of key points from roundtable facilitated by London Funders (May 2016) . . . , Potential connection with local place-based giving initiatives The Evolution of London’s BIDs 05/05/2016

BIDs in London today The Evolution of London’s BIDs 05/05/2016

Wider context • Council funding cuts • Business rates devolution • Localism agenda • 2017 rates revaluation • Crossrail supplement, National Living Wage, Apprenticeship Levy Projected expenditure on services 2010-20 London local government (London Councils) The Evolution of London’s BIDs 05/05/2016

Strengths and Weaknesses + Promote a defined area - Can’t always demonstrate hard economic impact + Attract additional resources into an area - Don’t always have funds to match ambitions + Respond to issues quickly and with local knowledge - Lack of awareness of BIDs and their impact + Represent businesses’ interests to local and regional - Less professional BIDs hamper government overall sector maturity + Provide enhanced services - Transparency and accountability The Evolution of London’s BIDs 05/05/2016

Opportunities and Threats + Cuts could allow greater role - Local authority cuts leave as agents of economic BIDs vulnerable to picking up development and services not in their business regeneration delivery plan or skill-set + Localism agenda could mean - Additional levies could long-term role in place- compete for business making through revenue Neighbourhood Planning - Rates revaluation could + Reduce costs through more mean unsustainable hikes in joint procurement and shared businesses’ tax burden in services growth areas The Evolution of London’s BIDs 05/05/2016

What are BIDs currently doing? BID Activity Areas Events • BIDs are: Place marketing Lobbying/advocacy • Service providers Community safety • Incubators and catalysts Environmental management Local purchasing initiatives • Conduits to businesses Cleaning • Influencers and campaigners Business support Place-shaping • Research agents & data repositories Regeneration BID area ambassadors Employment initiatives Other (please specify) 0 5 10 15 20 25 30 Number of BIDs The Evolution of London’s BIDs 05/05/2016

Current Projects and Future Roles Crossrail 1 and 2 The Evolution of London’s BIDs 05/05/2016

Current Projects and Future Roles Employment and training • Job brokerage service providers • Supporting the London Living Wage • Area and sector-based apprenticeship schemes • Developing pathways into higher level skills/jobs for local people and increasing diversity The Evolution of London’s BIDs 05/05/2016

Current and Future Roles Urban Planning and Regeneration The Evolution of London’s BIDs 05/05/2016

Current and Future Roles Brokers of Civil Society Support A conduit for channelling companies’ CSR commitments • Acting as proxy CSR unit (for SMEs) • Enabling employee volunteering • Mentoring local voluntary/community organisations • Supporting local place-based giving initiatives • Encouraging buy local initiatives The Evolution of London’s BIDs 05/05/2016

Challenges as BIDs evolve • Transparency and Board Representation accountability Local businesses • BID boards Local authority • Quality standards and National business accreditation Police • Skills and training Voluntary and community organisation • Competition vs Resident/community group collaboration Other 0% 20% 40% 60% 80% 100% 2012 2015 The Evolution of London’s BIDs 05/05/2016

BIDs and London’s Giving Current activity and future potential • Engaging BIDs in local giving initiatives (Islington; London Bridge; Sutton . . . demonstration projects) • Combining information to identify and prioritise local needs • Linking with Local Planning and Neighbourhood Forums (at a hyper local level) • Enabling businesses to appreciate local issues • Connecting business resources and employees with local community organisations (eg Better Bankside 3 years’ funding of 5 -6 community partners) The Evolution of London’s BIDs 05/05/2016

The Evolution of London’s Business Improvement Districts June 20 16 The Evolution of London’s BIDs 05/05/2016